In Seoul’s March housing market, demand for apartment subscriptions is concentrated on price-capped apartments
Seoul apartment subscription competition rates, demand concentrated in price-capped complexes The housing market is drawing attention with high competition rates at developments such as Acro Seocho and OTIER Banpo
In Seoul's apartment sales market last March, demand for subscription applications was concentrated in complexes subject to the price cap system. According to real estate platform Zigbang, the average firstpriority subscription competition ratio for apartment complexes that issued recruitment notices for residents in Seoul in March stood at 156.3 to 1.
Complexes in key areas of Seoul, such as Acro Seocho, O'tier Banpo, and Ichon Le El, showed high competition rates. In particular, Acro Seocho recorded 1,099.1 to 1, with 32,973 applications received for 30 generalsupply units, making it the highest competition rate among private apartments in Seoul since 2015.
According to the article, demand was concentrated in these complexes because they were subject to the price cap system, which sets sale prices lower than surrounding market prices. In the metropolitan area, Incheon posted an average competition rate of 18 to 1, the second highest after Seoul, while Gyeonggi Province was relatively low at an average of 0.5 to 1. Outside the metropolitan area, Daegu recorded 101.5 to 1, centered on complexes in prime locations.