[Asia Economy Reporter Noh Kyung-jo] The Ministry of Land, Infrastructure and Transport announced that starting from the 6th, pre-application for public sale housing under the New:Home brand, totaling about 2,300 households in Goyang Changneung and Yangjeong Station area in Gyeonggi, Jinjeop 2 in Namyangju, and Godeok Gangil 3 Complex in Seoul, will begin.
New:Home is the policy brand of the '500,000 Public Housing Supply Plan for Youth and Low-Income Housing Stability' announced last October. Over the next five years, 250,000 units of the Sharing Type, 100,000 units of the Selective Type, and 150,000 units of the General Type will be supplied.
View of Goyang Changneung District, Gyeonggi Province, as seen from Bukhansan / Photo by Yonhap News
The Sharing Type, supplied for the first time in this pre-application, includes special supply for youth, first-time homebuyers, and newlyweds. Youth special supply is available to unmarried individuals aged 19 to 39 who have never owned a home before, even if their parents own a house. For the General Type, special supply is divided into categories for newlyweds, first-time homebuyers, multi-child families, elderly parents support, and institution lottery types.
For both Sharing and General Types, general supply prioritizes applicants with first-priority housing subscription savings. Remaining units in the general supply are allocated by lottery, giving all remaining applicants who meet the general supply qualifications and those who lost in the priority supply lottery a chance.
Applicants must have an address in the metropolitan area as of December 30 of last year (announcement date). Detailed information on income and residence requirements, housing subscription savings conditions, regional priority supply criteria within the same rank, and winning priority can be found in the announcement. Building and unit numbers will be assigned upon winning the main application, not during pre-application. Contracts are also made after the main application results confirm the sale.
Special supply applications for three sites in Gyeonggi supplied by Korea Land and Housing Corporation (LH) will be accepted from the 6th to the 10th of this month, and general supply applications from the 13th to the 17th. For Godeok Gangil 3 Complex supplied by Seoul Housing and Communities Corporation (SH Corporation), special supply applications will be accepted on the 27th and 28th of this month, and general supply applications for first priority on March 2nd and 3rd, and second priority on the 6th.
It is possible to apply for multiple public sale housing units with different announcement dates, with the earlier winning right taking precedence. Final winners will be confirmed after qualification verification.
Pre-application can be submitted through the LH pre-application website or the SH Corporation website’s online application system, depending on the desired complex. In-person applications are accepted by reservation only for those vulnerable to internet use (aged 65 or older and persons with disabilities).
Park Jae-soon, Director of the Public Housing Promotion Division at the Ministry of Land, Infrastructure and Transport, said, "As this is the first pre-application for the new government’s public sale housing New:Home, we ask for the public’s great interest," adding, "It will be an opportunity for various groups and types of non-homeowners to take a step closer to owning their own home."
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