Gyeonggi housing applications polarize: Seongnam, Gwacheon and Dongtan thrive, while outlying areas fall short

[Financial News] Housing application results are becoming increasingly polarized by location in Gyeonggi Province’s presale market. While areas with good access to Seoul continue to post high competition rates, some outlying areas of Gyeonggi are repeatedly failing to fill all available units.
According to the housing industry on the 7th, seven of the 10 complexes with the highest first-priority application competition rates recorded in Gyeonggi Province since 2024 were in Seongnam, Gwacheon or Dongtan.
In Seongnam, the Pangyo Techno Valley Jungheung S-Class complex, launched for sale in Pangyo last July, recorded an average first-priority application competition rate of 1,110.35 to 1. Including this complex, all eight complexes launched for sale in Seongnam from 2024 through this year completed first-priority applications with competition rates of at least 20 to 1.
All three complexes launched for sale in Gwacheon during the same period posted competition rates of more than 50 to 1. Gwacheon D'Etre Prestige, offered last July, recorded an average rate of 228.51 to 1.
Dongtan saw a similar trend. Dongtan 2 New Town Dongtan Station Daebang Ellium The Signature, launched for sale in July 2024, recorded an average competition rate of 626.99 to 1, while all three complexes offered during the same period exceeded 40 to 1.
By contrast, the 10 complexes with the lowest application competition rates during the same period were in places including Pyeongtaek, Icheon, Yangju, Gapyeong and Anseong. All had average competition rates below 0.1 to 1.
Industry officials cite location as the reason for these differences in application results. Seongnam, Gwacheon and Dongtan each have self-sufficient local economies built around major employment hubs, including Pangyo Techno Valley, Gwacheon Knowledge Information Town and Samsung Electronics’ semiconductor facilities, respectively. They also have relatively good access to Seoul’s major business districts.
Analysts say these areas can attract not only demand from people seeking to live near their workplaces locally, but also demand from outside the region, including Seoul. As a result, relatively solid demand for housing applications has held up even as volatility in the real estate market has increased.
“Even within Gyeonggi Province, residential preferences vary greatly depending on location, including access to Seoul and local employment opportunities,” an industry official said. “As uncertainty in the presale market grows and prospective buyers become more selective about applying, the gap in application results between regions could widen further.”
Meanwhile, new supply is set to follow in Dongtan, Seongnam and Gwacheon, where housing application demand has recently been concentrated.
Akmer Dongtan, being built by POSCO E&C, is due to go on sale this month in the area around lots 95 and 99 in Bansong-dong, Dongtan District, Hwaseong, Gyeonggi Province. The complex will have seven basement levels and up to 49 above-ground floors across seven buildings, with a total of 1,808 units. It will offer medium- to large-sized homes with exclusive-use areas of 84 to 188 square meters.
The Sharp Bundang Highest, being built by POSCO E&C, will be offered in Jeongja-dong, Bundang District, Seongnam. The complex will comprise 17 buildings, with four basement levels and up to 26 above-ground floors, and a total of 1,149 units.
The Seongnam Bokjeong 2 Block A1 Newlywed Hope Town will also be offered in Seongnam, after recently accepting applications from preliminary subscription winners. Harrington Square Gwacheon, a residential officetel, is slated to be offered in General Commercial Block 5 of Gwacheon Knowledge Information Town.

[email protected] Choi A-young Reporter