Wangsuk New Town Sales Expected to Require 25 Million Won Deposit for Winning Bid

A large volume of public housing sales is coming at the end of this year, with consecutive subscription applications scheduled for Namyangju Wangsuk New Town and Gunpo Daeyami. These units are particularly attractive as they are priced below market rates and located in non-regulated areas under the October 15 real estate measures, making it easier to obtain loans.

According to Real Estate R114 and Korea Land and Housing Corporation (LH), main subscriptions for Zones A-24 and B-17 of Namyangju Wangsuk New Town, part of the third-generation new town project, will begin on December 10. Zone A-24 is designated as Newlywed Hope Town, while Zone B-17 is public housing. Move-in is scheduled for December 2028.

Namyangju Wangsuk Zone B-17 will accept main subscription applications starting December 11, with 408 units from pre-subscription (main subscription on December 8-9) and 22 units for general supply. Since typically 20-30% of pre-subscription units transfer to general supply, an estimated 100-150 additional units are expected to be added to the general supply this time. The complex consists of 74 and 84 square meter units, with most housing types designed in a four-bay flat structure with the living room and kitchen aligned at the front. Rooms can be expanded to four total with an alpha room option. Transportation is also convenient, with Wangsuk Station (tentative name), where three railway lines converge including Line 9 extension, Greater Seoul Express Railway (GTX) Line B, and Gyeongchun Line, to be built nearby.

The sale price is set at approximately 18.8 million won per 3.3 square meters. The 74 square meter units average around 560 million won, while 84 square meter units are in the 640 million won range. Considering that nearby Dasan New Town's "e-Pyeonhansesang Dasan" 84 square meter units are trading at 875 million won and "Dasan I'Park" at around 950 million won, a potential profit of up to 300 million won is expected.

Accordingly, the winning deposit is expected to reach the 24-25 million won range. This is equivalent to depositing 100,000 won monthly into a housing subscription account for more than 20 years. Competition during pre-subscription reached 38 to 1. "Since this is the best location in Wangsuk New Town, it's not a regulated area, and profits are expected, the minimum winning deposit will form at a high level," said Park Ji-min, CEO of Wolyong Subscription Research Institute.

Namyangju Wangsuk Zone A-24, which begins accepting main subscriptions on December 10, is a Newlywed Hope Town with 226 pre-subscription units and 164 general supply units. It consists of a single housing type with 55 square meters of exclusive area. Evaluated as the prime location in Wangsuk New Town, the sale price is also affordable at around 460 million won, below market rates. Moreover, as a Newlywed Hope Town, a fixed interest rate of around 1.3% annually can be applied for up to 30 years with a 400 million won limit. Residents of the Seoul metropolitan area, not just Namyangju, can apply. Competition during pre-subscription was 3 to 1.

Gunpo Daeyami Zone A-2, which begins main subscription on December 10, will supply 1,003 units. Pre-subscription accounts for 564 units and general supply for 439 units. It is located near Daeyami Station on Line 4. The average sale price is around 17 million won per 3.3 square meters, with 55 square meter units averaging around 410 million won and 59 square meter units around 450 million won. Move-in is scheduled for August 2029, and only Gunpo residents can apply.