[Asia Economy Reporter Kim Yuri] The expanded "Special Supply for First-Time Homebuyers" (hereafter referred to as Special Supply) under the government's July 10 measures will be actively supplied starting this week. In particular, up to 15% of the Special Supply quota for first-time homebuyers has been newly established for private housing, drawing significant attention from non-homeowners with actual housing demand.
According to the housing sales industry on the 19th, complexes applying the expanded Special Supply criteria for first-time homebuyers will be released one after another in the sales market nationwide, including Daejeon's "Gapcheon1 Trifull City Hillstate," which is accepting applications on the same day.
According to the revised Housing Supply Regulations enacted on the 29th of last month, the Special Supply ratio for first-time homebuyers in national housing has been expanded to 25%. When supplying private housing with a net floor area of 85㎡ or less, 15% of the quota must be allocated as Special Supply in public housing sites, and 7% in private housing sites, to be supplied to non-homeowners with actual housing demand.
"Yeoju Station Unam Firstville," located in Block 2 of the Yeoju Station Area Urban Development Zone at 227 Gyodong, Yeoju-si, Gyeonggi-do, is effectively the first complex to apply the expanded Special Supply quota for first-time homebuyers. The special supply application starts on the 22nd, marking the beginning of the official sales schedule. The complex will supply 32 units as Special Supply for first-time homebuyers, which is 7% of the units under 85㎡ (private housing in private housing sites). The complex consists of 8 buildings ranging from 2 basement floors to 18 above-ground floors, with units sized between 59㎡ and 99㎡, totaling 602 units. It is the first sales complex to be built in the Yeoju Station Area Urban Development Zone, within walking distance of Yeoju Station on the Gyeonggang Line.
The three projects in Gwacheon Knowledge Information Town starting their sales schedule this week are also expected to apply a 15% Special Supply quota for first-time homebuyers on units 85㎡ or less (private housing in public housing sites). Gwacheon Prugio Ortus (S1 Block) consists of 4 buildings from 3 basement floors to 29 above-ground floors, with 183 units of 74A㎡, 56 units of 74B㎡, 77 units of 74C㎡, 96 units of 84A㎡, and 23 units of 84B㎡, totaling 435 units. All 435 units are under 85㎡, and approximately 65 units are expected to be allocated for first-time homebuyer Special Supply. Gwacheon Prugio Eoullim Lavieno (S4 Block) consists of 7 buildings from 2 basement floors to 35 above-ground floors, with 90 units of 84B㎡, 55 units of 84C㎡, 162 units of 84D㎡, 81 units of 84E㎡, 188 units of 99A㎡, 73 units of 99B㎡, 20 units of 105A㎡, and 10 units of 120A㎡, totaling 679 units. Gwacheon Lesento Desiang (S5 Block) consists of 6 buildings from 2 basement floors to 28 above-ground floors, with 188 units of 84A㎡, 146 units of 84B㎡, 98 units of 99A㎡, 97 units of 99B㎡, and 55 units of 107A㎡, totaling 584 units. Approximately 58 units and 50 units respectively are expected to be allocated for first-time homebuyer Special Supply.
Meanwhile, Daejeon's "Gapcheon1 Trifull City Hillstate," which is accepting Special Supply applications including for first-time homebuyers on the same day, is national housing, so the Special Supply quota for first-time homebuyers reaches 279 units, which is 25%. The complex consists of 18 buildings from 2 basement floors to 20 above-ground floors, with units sized between 59㎡ and 84㎡, totaling 1,116 units.
To apply for the Special Supply for first-time homebuyers, not only the head of the household but all members must have no history of owning a house. Applicants must be heads of non-homeowner households or household members who are first-priority in general supply, and as of the announcement date of the recruitment, must be either married or have children, and must have paid income tax for at least 5 years as workers or self-employed individuals. For national housing, the subscription savings amount must be at least 6 million KRW including advance payments, but there is no savings amount condition for private housing. Income criteria currently require that for national housing, the household income must be 100% or less of the previous year's average monthly income of urban workers, and for private housing, 130% or less. The recently announced relaxation of income criteria for first-time homebuyer Special Supply (up to 160%) will be applied starting next year. For national housing subject to the Public Housing Special Act, asset criteria (real estate under 215.5 million KRW, vehicles under 27.64 million KRW) also apply, so caution is advised.
An official from the maintenance industry said, "Since the supply of public housing has expanded and, unlike in the past, quotas are now available in private housing as well, fierce subscription competition is expected in popular complexes in Seoul and the metropolitan area to seize winning opportunities."
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