After the government announced the 6·27 measures, 'Jamsil Rael' is expected to proceed as the first subscription in the Gangnam area. Due to the limit of 600 million won for housing mortgage loans, only those with 1.2 billion won in cash can apply, and the competition rate for subscriptions is expected to be slightly lower than before the transfer. However, many believe that the pricing is significantly lower than the surrounding market prices, and it will still be perceived as a 'lottery subscription'.
According to the industry on the 1st, the recruitment announcement for residents of 'Jamsil Rael' in Sincheon-dong, Songpa District, Seoul, is set to begin on the 14th. Subscriptions will start with special supply on the 25th. Jamsil Rael is a restructured apartment from Jamsil Miseong and Crova apartment, with 216 units available for general sale out of a total of 1,865 units. The selling price per 3.3 square meters is expected to be around 60 million won.
Among the general sale units, the largest unit size, a 79 square meter exclusive area, is expected to exceed 1.8 billion won. Under the 6·27 measures, one must hold 1.2 billion won in cash to apply, as both intermediate loan and 'leasehold transfer conditional loan' are completely prohibited, making it impossible to pay the balance with the deposit for the lease.
The industry expects that the competition rate for subscriptions of 'Jamsil Rael' will be somewhat lower than before the transfer. In the first half of this year, the competition rate for first and second priority subscriptions in Seoul was 69.21 to 1, nearly eight times higher than the nationwide rate of 8.87 to 1. It is anticipated that the overall competition rate for subscriptions will decrease in the second half of the year, and this phenomenon may be more pronounced in high-priced complexes.
The general sale volume in the second half of the year is projected to be 64,697 units, representing a 25% increase from the first half (51,911 units). Among these, the supply volume in the metropolitan area is expected to be 89,067 units, accounting for 65%, while Seoul is expected to have 19,632 units. Following 'Jamsil Rael' in the Gangnam area, 'Raemian Trinwon' in Banpo-dong, Seocho District, is set to offer subscriptions early next year.
Cho Young-gwang, a researcher at Daewoo E&C, noted, "Even after the 6·27 measures, record high prices are still being set in key areas of Seoul," adding, "The national benchmark (84 square meter exclusive area) of nearby Jamsil Raemian I-Park (formerly Jamsil Jinju) is transacting at around 100 million won per pyeong, suggesting that the effects of the 'lottery subscription' will be realized."
Nam Hyuk-woo, a real estate researcher at Woori Bank's WM Sales Strategy Department, stated, "It seems inevitable that the overall competition rate for subscriptions will decrease due to lending restrictions after the 6·27 measures." However, he added, "Since the price satisfaction is still high compared to the anticipated entry point's expected price, those awaiting the subscription will continue to have high expectations."