More than 30,000 people applied for the first-priority subscription at "Hauterre Banpo" in Seocho-gu, Seoul. Over 100,000 applied for the non-ranked subscription for two units at "Gangdong Heritage Xi" in Gangdong-gu. The massive turnout is attributed to expected price gains of several billion won.
According to the Korea Real Estate Board's subscription portal on January 13, 30,540 people applied for 43 units in the Hauterre Banpo first-priority subscription. The average competition ratio was approximately 710.2 to 1.
The unit type with the highest competition ratio (1,180.9 to 1) was the 59㎡ Type B. A total of 17,713 people applied for 15 units.
The complex also recorded high competition in the special subscription held on January 10. With 15,505 applicants competing for 43 units, the average competition ratio reached 360.6 to 1.
Hauterre Banpo is a reconstructed development of Sinbanpo 21st in Jamwon-dong, Seocho-gu. The complex will comprise two buildings with 20 floors above ground and four basement levels, totaling 251 units. It is the first development in the Gangnam area to adopt "Hauterre," POSCO E&C's high-end brand.
The subscription frenzy was driven by expected price gains of more than 2 billion won ($1.4 billion). The sale price for an 84㎡ unit at Hauterre Banpo is 2.755 billion won. Nearby newly built "Maple Xi" units of the same size are trading at around 5 billion won.
On the same day, Gangdong Heritage Xi in Gildong, Gangdong-gu also held a non-ranked subscription. A total of 106,093 people applied for just two units (59㎡ Type B). The average competition ratio was 53,046.5 to 1.
Gangdong Heritage Xi is a reconstructed development of Sindonga 1st and 2nd complexes in Gildong, Gangdong-gu. It is a large-scale complex with eight buildings reaching up to 33 floors above ground and three basement levels, comprising 1,299 units.
The sale prices for these units were 733.44 million won (7th floor) and 786.87 million won (28th floor), unchanged from the original prices set in December 2022. Given that units of the same size sold for 1.7 billion won in January, price gains of approximately 1 billion won are expected.