Even with Low Bonus Points, 'Home Ownership' Possible... Where Are the August-September Lottery-Based Sale Complexes?

On the morning of the 1st, rental listings are posted at a real estate agency in Seoul.

With the third phase of pre-sale applications for new towns in the second half of this year gaining momentum, interest in housing sales is increasing, but it is not easy for young adults with low scores to expect to own a home. One way to aim for winning regardless of the scoring criteria such as income, period of no home ownership, and number of dependents is the 'lottery system.' It is the best opportunity for low-score applicants to aim for home ownership.

According to a real estate research firm on the 1st, the nationwide application winning scores in the first half of this year ranged from a minimum of 9 points to a maximum of 84 points, with an average of 53.2 points. By region, Seoul recorded an average of 64.3 points, Gyeonggi Province 52.7 points, and Incheon 55 points. In the provinces, Jeonbuk showed a high average winning score of 61.5 points, and Jeju Island also had a high score of 56.9 points.

As winning a new apartment pre-sale is called a 'lottery,' experts advise that low-score applicants should actively utilize the lottery system.

The lottery system selects winners by random drawing rather than by score. For housing types exceeding 85㎡ in exclusive area, 50% of the total supply in speculative overheated districts and 70% in overheated application areas are subject to the lottery system. For housing types 85㎡ or less, only 25% in overheated application areas are subject to the lottery system. In non-regulated areas, 60% of the supply for housing types 85㎡ or less is selected by lottery. For housing types exceeding 85㎡, 100% are selected by lottery.

DL E&C plans to sell 'e-Pyeonhansesang Gangil Urban Bridge' in Block 10, District 3, Godeok Gangil District, Gangdong-gu, Seoul in August. The complex consists of 6 buildings from basement level 2 to 27 floors above ground, with exclusive areas of 84㎡ and 101㎡, totaling 593 households. Fifty percent of the 101㎡ units will be subject to the lottery system.

Jinhung Enterprise and Hyosung Heavy Industries plan to sell 'Hyosung Harrington Place Sangmu Station' in 120-1 Mareuk-dong, Seo-gu, Gwangju in August. The complex will be composed of 7 buildings from basement level 2 to a maximum of 20 floors above ground, with exclusive areas of 84㎡ and 119㎡, totaling 373 households. Seventy percent of the 119㎡ units will be subject to the lottery system.

GS Construction plans to sell 'Donghae Xi' in San 1, Hyoga-dong, Donghae-si, Gangwon Province in September. The complex consists of 9 buildings from basement level 3 to a maximum of 20 floors above ground, with exclusive areas ranging from 84㎡ to 161㎡, totaling 670 households. It is supplied in a non-regulated area and thus subject to the lottery system.

Meanwhile, the apartment application in Sejong City held last week confirmed the power of the 'lottery system' with over 220,000 applicants. According to the Korea Real Estate Board's Apply Home, the 'Sejong Xi The City' apartment, which received first-priority applications on the 28th, recorded an average competition rate of 199.7 to 1 with 220,842 applications for 1,106 units.

Of the total 1,350 households, about 89%, or 1,200 households, were units exceeding 85㎡ in exclusive area, and about 500 households, corresponding to 50% of the general supply excluding special supply, were allocated to the lottery system. Even homeowners could win the lottery if they pledged to dispose of their existing homes, which is interpreted as attracting a large number of low-score applicants and one-homeowners considering disposing of their existing homes.