Hoban Summit Pungmu III draws 21.5-to-1 ratio in first-round apartment subscription

Hoban Industrial's Hoban Summit Pungmu III, to be built on Block B4 in the Pungmu Station transit-oriented area of Gimpo, recorded a peak competition ratio of 21.5 to 1 in its first-round apartment subscription. Following strong subscription results for the earlier B5 and C5 blocks, the B4 block's performance reaffirmed buyer interest in the Hoban Summit brand complex in the Pungmu transit-oriented area.

According to the Korea Real Estate Board's subscription platform Wednesday, Tuesday's first-round subscription for Hoban Summit Pungmu III drew 2,443 applications for 266 units open to general applicants, excluding special supply. The average competition ratio was 9.2 to 1.

By unit type, the 59㎡A posted the highest ratio at 21.5 to 1, followed by the 84㎡A at 12 to 1, the 59㎡B at 11.8 to 1, the 84㎡B at 4 to 1, the 84㎡C at 3.9 to 1 and the 84㎡D at 3 to 1.

Analysts attributed the strong subscription results to the complex's scarcity value as the last apartment project in the Pungmu transit-oriented area and its price competitiveness under the price ceiling on new apartments.

"Block B4, where Hoban Summit Pungmu III will be built, sits adjacent to the elementary school site planned for the Pungmu transit-oriented area, and is also close to kindergarten and middle school sites, giving it an excellent educational environment," a project official said. "Strong demand from end-users appears to have been driven by walkable access to Gimpo Goldline's Pungmu Station and convenient access to the existing lifestyle infrastructure of Pungmu-dong and Sau-dong."

Winners will be announced Tuesday. Document submission runs from Wednesday through Aug. 7, and contract signing will take place over three days from Aug. 10 to Aug. 12.

Hoban Summit Pungmu III will be located on Block B4 of the Pungmu Station transit-oriented urban development project at 458 Sau-dong, Gimpo, Gyeonggi Province. The complex will comprise eight buildings with two below-ground and 29 above-ground floors, offering units with exclusive use areas of 59 and 84 square meters across a total of 660 homes. Move-in is scheduled for May 2029.

Block B4 is the closest of the three Hoban Summit complexes in the Pungmu transit-oriented area to the planned elementary school, kindergarten and middle school sites. Community facilities will include a fitness center, an indoor golf practice range, a children's cafe with XR content, a daycare center and a small library. More than 40 percent of the site will be developed as landscaped space.

With the addition of Hoban Summit Pungmu III, the Pungmu transit-oriented area will be home to a Hoban Summit brand complex totaling 2,577 units across the B4, B5 and C5 blocks.

Meanwhile, the first-round subscription for Hoban Summit Pungmu II, held June 2, drew 3,072 applications for 533 general supply units — excluding special supply — for an average competition ratio of 5.76 to 1.