Public apartment sales with relatively lower prices compared to private developments will begin rolling out this month. Approximately 3,600 units will be supplied primarily in metropolitan area third-generation new towns and public housing districts, including Namyangju Wangsuk 2 and Goyang Changneung. The price cap system keeps the average price below 20 million won per 3.3㎡, drawing strong interest from end-users such as newlywed couples.
According to Korea Land and Housing Corporation (LH) on the 13th, 3,647 new units will be supplied across Goyang Changneung S-01 (494 units), Namyangju Wangsuk 2 A01 (812 units), Namyangju Wangsuk 2 A03 (686 units), Incheon Gyeyang A9 (317 units), Siheung Hajung A1 (400 units), Incheon Gajeong 2 B2 (308 units), and Pyeongtaek Godeok A63 (630 units). Move-ins are expected between June 2028 and February 2029.
Namyangju Wangsuk 2 A01 is the first main subscription block in the Wangsuk 2 district. Kumho Engineering & Construction will build it as "Wangsuk Atera." The complex comprises 812 units (59㎡, 74㎡, and 84㎡ exclusive areas) in seven buildings up to 29 stories. During the 2021 pre-subscription period, it recorded an average competition ratio of 29.3 to 1 for 762 units. The main subscription price for 84㎡ units is expected to be in the upper 600 million won range. The pre-subscription estimated price was 561.15 million won, but rising construction costs have been factored in. The price is considered competitive given that comparable units in nearby Dasan New Town trade for up to 1 billion won.
Namyangju Wangsuk A03 will supply 686 units, with Ilsung Construction handling the work.
Incheon Gyeyang A9, the closest site to Seoul, is also expected to attract strong interest. Of the total 477 units, 317 will be sold through the Newlywed Hope Town program, with the remainder offered as long-term rentals.
Goyang Changneung S-01 also offers excellent accessibility to Seoul. In last year's third-generation new town subscriptions, three blocks in Goyang Changneung (A4, S5, S6) drew 32,451 applicants for 610 general supply units, recording an average competition ratio of 53 to 1.
Soaring private apartment prices are expected to influence subscription rates for third-generation new towns. According to private apartment market trends from Korea Housing & Urban Guarantee Corporation (HUG), the average metropolitan area sales price in February was 32.17 million won per 3.3㎡. The average price for third-generation new town sales does not exceed 20 million won per 3.3㎡—more than 10 million won lower per 3.3㎡.
LH plans to supply 24,622 units in key metropolitan locations this year. By region, the breakdown includes Pyeongtaek Godeok (4,531 units), Goyang Changneung (3,857 units), Siheung Geomo (1,771 units), Namyangju Wangsuk 2 (1,498 units), and Incheon Gyeyang (1,289 units). The closely watched third-generation new towns will supply 7,571 units across 11 blocks.
"The private apartment subscription market has split between lottery-style bargains and high-priced offerings, with prices having risen significantly," said Park Ji-min, CEO of Wolryong Subscription Research Institute. "For long-term housing subscription account holders without homes, third-generation new town subscriptions are very attractive."
