New:Home 3rd Preliminary Subscription Closes with an Average Competition Rate of 18.6 to 1

The Ministry of Land, Infrastructure and Transport announced on the 20th that a total of 61,380 applicants competed for 33,000 housing units in the third pre-subscription of New:Home held from the 16th to the 19th, recording an average competition rate of 18.6 to 1.

[Image source=Yonhap News]

The average competition rates by type were 37.9 to 1 for the Nanum type (Hanam Gyosan A5, Ansan Jangsang A12, Seoul Magok 10-2), 7.4 to 1 for the Selection type (Guri Galmae Station Area A4, Gunpo Daeyami A1, Namyangju Jinjeop 2A6), and 8.9 to 1 for the General type (Guri Galmae Station Area A4, Incheon Gyeyang A6, Namyangju Jinjeop 2A6).

The detailed competition rates by district were as follows: Nanum type Hanam Gyosan A5 at 48 to 1, Ansan Jangsang A12 at 8.9 to 1, Seoul Magok 10-2 at 69.4 to 1; Selection type Guri Galmae Station Area A4 at 15 to 1, Gunpo Daeyami A1 at 4.4 to 1, Namyangju Jinjeop 2A6 at 3.3 to 1; General type Guri Galmae Station Area A4 at 26.3 to 1, Incheon Gyeyang A6 at 6.0 to 1, Namyangju Jinjeop 2A6 at 3.3 to 1.

In particular, the general supply of Magok 10-2, supplied as the Nanum type, attracted 6,923 applicants for 52 units, resulting in a competition rate of 133.1 to 1, and the general supply in Hanam Gyosan saw 8,979 applicants for 92 units, showing a high competition rate of 97.6 to 1.

By age group, the distribution was ▲30s 50.9% ▲20s 23.8% ▲40s 12.9% ▲50 and above 12.4%.

New:Home is a flagship housing policy of the Yoon Seok-yeol administration aimed at supplying 500,000 public housing units for youth and low-income households without homes. Following the first and second pre-subscriptions, more than 70% of applicants in the third round were in their 20s and 30s, showing strong interest from young people.

The announcement of winners will be on November 2 for Seoul Magok 10-2, November 3 for the General type (Guri Galmae Station Area, Incheon Gyeyang, Namyangju Jinjeop 2), November 8 for the Nanum type (Hanam Gyosan, Ansan Jangsang), and November 10 for the Selection type (Guri Galmae Station Area, Namyangju Jinjeop 2, Gunpo Daeyami). Final winners will be confirmed after additional screening of eligibility criteria such as income and assets.