Guwcheon Apartment with Minimum 1 Billion KRW Profit: Unreserved Subscription Conditions and Schedule

In Guwcheon City, Gyeonggi Province, one unit of an apartment with a canceled contract is being re-supplied through an unreserved subscription method, attracting the attention of those dreaming of owning a home. This unit is expected to yield a substantial profit of at least 1 billion KRW compared to nearby market prices. The apartment is from a complex that previously recorded an enormous competition rate and received significant attention at the time of its initial sale. Due to a contract cancellation resulting from illegal activities, this valuable opportunity has reopened. Compared to the actual transaction prices of surrounding apartments, which reach several billion KRW, this unit is being offered at a remarkably low price, akin to winning the lottery, so many applicants are expected. While the advantage is that a subscription account is not required, strict eligibility criteria, such as residency and non-ownership status, must be met, making prior careful verification essential. If you are a non-owning head of a household residing in the Guwcheon area, do not miss this opportunity; we recommend checking the schedule and applying. Below, we will examine in detail the specific sale price, the scale of the expected profit compared to surrounding market prices, and the essential matters to know when applying for the unreserved supply of this Guwcheon apartment.

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Guwcheon Apartment with Minimum 1 Billion KRW Profit: Unreserved Subscription Conditions and Schedule

1. Overview of the Re-supply of Guwcheon Purgeio Bellarte

The unit being re-supplied is reported to be one unit of Type B with a floor area of 99 square meters in the Guwcheon Purgeio Bellarte complex located in Juam-dong, Guwcheon City, Gyeonggi Province. At the time of its initial sale, this complex attracted a massive crowd due to its sale price being significantly lower than the surrounding market price. This time, a valuable re-supply opportunity has arisen due to a contract cancellation. It is a popular complex that recorded an enormous competition rate of 135 to 1, with over 40,000 applicants for 350 general supply units. In particular, the Type A unit with a floor area of 99 square meters had a competition rate exceeding 209 to 1, indicating extremely high preference among actual demanders. For non-owners who have been preparing to buy a home for a long time, this is a dreamlike opportunity returning, and the heat in the real estate market is already rising. Considering the complex’s locational advantages and its past explosive popularity, the competition for this single unit is expected to be fierce.

The supply quantity is one unit of Type B with a floor area of 99 square meters, which is a unit whose contract was canceled due to illegal activities. At the time of its initial sale, the complex was so popular that the average competition rate for general supply reached 135 to 1.

2. Analysis of Sale Price and Additional Option Costs

The basic supply price for this unit is set at 952,180,000 KRW, but additional costs must be considered. The cost for balcony expansion and additional selected items chosen by the previous contract holder is 20,880,000 KRW, and the cost for appliance options such as system air conditioners, which is 11,670,000 KRW, must also be inherited. When all these option costs totaling 32,550,000 KRW are added, the total amount the buyer actually needs to pay is approximately 984,730,000 KRW. This amount is slightly under 1 billion KRW, offering high financial appeal as it allows ownership of a new apartment in the Guwcheon Knowledge Information Town. While the initial financial burden may feel significant, considering the enormous gap with the surrounding market price discussed below, it is a manageable amount. You should calculate the deposit required at contract signing and the balance payment schedule until the move-in date to establish a thorough financial plan.

The basic supply price is 952,180,000 KRW, and you must inherit the costs for balcony expansion and appliance options. The actual payment amount, including all option costs, is set at approximately 984,730,000 KRW.

3. Expected Profit Compared to Surrounding Market Prices

While the actual purchase price of this unit is in the range of 984 million KRW, recent actual transaction prices for apartments of the same area nearby are recorded around 2.2 billion KRW. In fact, the Type 129B unit with a floor area of 99 square meters in Guwcheon Purgeio Lavien O, located in the Guwcheon Knowledge Information Town, was traded for 2.18 billion KRW in April. Additionally, similar area units in the nearby Guwcheon Resento Decian were traded for 2.25 billion KRW in July, forming a solid market price. Comparing this re-supply price with the actual transaction prices of these two complexes, it is easy to see a significant difference of approximately 1.2 billion KRW. Even by simple calculation, winning the subscription guarantees a profit of at least 1 billion KRW, making the term “lottery subscription” well-deserved. Because such a certain profit is guaranteed, intense strategic maneuvering is expected among those planning to apply for this subscription.

Apartments of the same area in nearby complexes have recently completed actual transaction reports around 2.2 billion KRW. The difference between the sale price and the actual transaction price reaches 1.2 billion KRW, expecting a substantial profit of at least 1 billion KRW.

4. Understanding Subscription Eligibility and Application Conditions

Unlike general initial sales, this unreserved supply unit has the remarkable advantage that no complex subscription account is required. However, not everyone can apply; strict residency requirements and housing ownership status must be met as of the resident recruitment announcement date. Only non-owning heads of households currently residing in Guwcheon City, Gyeonggi Province, as of the announcement date, are eligible to apply for this subscription. If you reside outside of Guwcheon City or own even one house, unfortunately, you cannot apply for this opportunity. If competition arises among eligible applicants, the final winner will be selected fairly through a lottery. It is necessary to reconfirm through the recruitment announcement whether you fully meet the Guwcheon City residency requirement and the non-owning head of household condition.

Although a subscription account is not required, the strict condition of being a non-owning head of household residing in Guwcheon City applies. The final winner will be selected through a random lottery among applicants who meet the conditions.

5. Subscription Schedule and Contract Signing Procedure

The subscription for the re-supply of Guwcheon Purgeio Bellarte will be officially conducted on the 28th and can be applied for through the Korea Land & Housing Corporation’s “Subscription Home” website. Since you can apply easily via the internet even with a busy daily life, be careful not to miss the designated date and time. After the subscription application is completed, the winner announcement will be made on the 2nd of next month, revealing the result in a tense moment. Those selected as winners must sign the contract in person on the 13th, submitting documents according to the prescribed procedure and paying the deposit. Move-in is scheduled for December this year, and the balance must be paid in full by December 12, within two months of the contract date, so the funding schedule must be managed tightly. Although a long time has passed since the initial winner announcement and the resale restriction period has expired, the re-winning restriction applies due to the application of the sale price ceiling system.

Subscription applications will be accepted on the 28th via Subscription Home, and the winners will be announced on the 2nd of next month. The contract will be signed on October 13, move-in is in December, and the balance must be paid by December 12.

6. Precautions and Future Outlook

Wisdom is needed to accurately recognize the regulations and precautions hidden behind the sweet allure of a “lottery subscription” and to apply cautiously. Since this unit is subject to the sale price ceiling system, winning it imposes a strong restriction that prevents winning another housing subscription for the next 10 years. Fortunately, the 3-year resale restriction period has already passed based on the initial winner announcement date of July 2020, so resale is possible, but you should be cautious when making financial plans even if there is no mandatory residency period. Rather than rushing in blindly because of the huge 1 billion KRW profit looming before you, you should coldly assess your cash asset situation and the possibility of securing the balance payment. Since the value of the Guwcheon area is likely to be highly evaluated in the future, seizing this opportunity could yield significant long-term asset growth. If you are a non-owning head of household in Guwcheon City who meets the eligibility criteria, we hope you will use this opportunity as a stepping stone to beautifully realize your dream of owning a home.

As this unit is subject to the sale price ceiling system, winning it results in a 10-year re-winning restriction. Although the resale restriction period has already passed, thorough financial management and planning for the balance payment are important.

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