A phenomenon of polarization also appears in the unlisted subscription market, so-called ‘Jub-Jup’. In popular areas, the competition rate is over 1,000 to 1, while unpopular complexes struggle with oversubscription, showing extreme temperature differences.
A panoramic view of a real estate agency in Seoul. News 1
◆2 years of ‘over 100 to 1’ competition rate, unlisted subscription 19.9%… ‘Undersubscribed’ also 18.6%
According to the Korea Real Estate Agency and KB Management Research Institute on the 3rd, 584 unlisted subscriptions were issued through the Real Estate Agency’s subscription website for two years from March 2022, and the total units supplied were 17,271. As a result of the KB Management Research Institute analysis of the national average competition rate for unlisted subscription (number of homes supplied compared to total subscribers) during this period, it was calculated to be between 177 to 1.
Unlisted subscription refers to accepting subscription requests for the remaining uncontracted or unsold units and selecting winners by random drawing. It has the advantage of not requiring a subscription account and being sold at the supply price at the time of its past sale, making it cheaper than the nearby market price. Last February, 1,013,456 applicants flocked to the unlisted subscription (recruitment of 3 households) for the ‘H Firstier I-Park’ apartment in Gaepo-dong, Gangnam-gu, Seoul, recording an average competition rate of 337,818 to 1.
A view of an apartment complex in Seoul. News 1
Looking at the average competition rate for unlisted subscriptions by department over the last two years, 19.9% of flats recorded ‘100 to 1 or higher’ (11.6% for 1,000 to 1 or higher). On the other hand, unclaimed ‘subscription’ flats also accounted for 18.6%. KB Institute of Management Research said in a recent report, “Polarization is happening even in the unlisted subscription market, and the number of complexes with random supply and multiple subscriptions is increasing due to the increase in unsold units,” by adding, “18.6% of ungraded subscriptions were not achieved, and half of the unsold complexes were in the metropolitan area “It was located in,” he explained. Even in Seoul, there were complexes that advertised recruiting tenants more than 10 times.
◆ “Market distortion occurs due to indiscriminate unlisted subscription… “Efforts must be made to prevent overheating.”
As interest in unrated subscriptions increases, particularly in popular regions, the number of ‘no-questions-asked subscriptions’, where applicants make a blind application without verifying correct information, is also on the rise. Jeong Jong-hoon, a senior researcher at the KB Management Research Institute who wrote the report, said, “Market distortion occurs because undifferentiated subscriptions are not listed as subscriptions without questions.” He added, “We must add to the minimum eligibility standards even in unlisted subscriptions to prevent overheating due to excessive concentration of subscriptions and resolve distortions in the subscription market.” “Institutional efforts are needed to do this,” he noted. If dropouts after winning an ungraded subscription continue, unnecessary work and costs will follow, so related systems need to be backed up.
Model of an apartment in a construction company model house. random news
Ungraded subscription is mainly divided into ‘unlisted post-subscription’, ‘random supply’, and ‘contract cancellation housing resupply’ depending on the case of the remaining households. Ungraded post-application refers to a case where winners and prospective residents have been selected, but units remain due to lack of qualifications or contract abandonment, and random supply refers to a case where unsold units at the time of initial recruitment. an announcement. Contract cancellation and housing resupply refers to cases where the contract is canceled due to actions that disrupt the supply order, such as illegal resale.
If an unlisted subscription is made due to contract cancellation and housing replenishment, there are some differences in subscription qualifications depending on each method, such as only those who have already lived in the area where the apartment is located can apply. Senior Researcher Jeong said, “Even in ungraded subscriptions, there are differences in eligibility for support, such as residential area and special supply eligibility, and restrictions on re-earning,” and suggested, “The features need to be checked detailed and apply to all cases of the remaining generation.”
Reporter Lee Kang-jin jin@segye.com
[ⓒ 세계일보 & Segye.com, 무단전재 및 재배포 금지]
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