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The competition for subscription to Dunchon Jugong, which attracted attention as the largest reconstruction complex in Korea, did not live up to expectations.

It was even predicted that 100,000 people would come, but it seems that the frozen real estate market amid the burden of high interest rates had an impact.



This is Reporter Ahn Sang-woo.



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17,378 people received subscriptions in the first place over the past two days for the general supply of 3,695 households for Dunchon Jugong reconstruction, and the competition rate is 4.7 to 1.



Compared to the subscription competition rate of other nearby apartments just a month ago, it was 15.7 to 1, which is significantly lower.



It is a large apartment in a good location that has been coming out for a long time in the Gangnam area of ​​​​Seoul, so the expectation that demand for subscriptions will be rushed was wrong.



[Dunchon Jugong sales official: Considering the atmosphere of the contracted subscription market, where interest rates are high and loans are difficult, it is an acceptable result...

.]



In addition to the 8-year resale restriction and the 2-year residency obligation, the higher-than-expected pre-sale price is cited as the direct cause.



[Park Won-gap/KB Kookmin Bank Senior Real Estate Expert: As the price of nearby houses has declined significantly, there is only a difference of about 200 to 300 million won.

If the interest rate rises further, if you see that the price of the surrounding house can fall further, you can lose money (that is.)] It



is an analysis that the recent extremely contracted housing purchase sentiment amid high interest rates also caused a cold wave in the sales market.



Last year, Seoul's first-place subscription rate was 164:1, but this year it fell to 22:1.



As of last October, there were 47,000 unsold homes nationwide, and only 2% in Seoul.



However, we cannot be optimistic because there are many factors that increase the sale price, such as raw materials and wages.



[Kwon Dae-jung/Professor of Real Estate Department, Myongji University: In areas where the pre-sale price cap is applied, the price is at least 15-20% lower.

(Nevertheless), if there is an unsold sale, general housing prices may fall further.] There



are also observations that the regional polarization of the real estate market, including the pre-sale market, will intensify because demand is still high in Gangnam and Seocho, Seoul, despite high prices.