In the Third Week of February, 4,623 Households Nationwide Apply for Subscription... 'New Home' General Supply Begins

[Asia Economy Reporter Kwak Minjae] Next week, the pre-subscription for general supply of ‘New Home’ will begin. ‘New Home’ is a public sale housing project introduced by the government to help non-homeowners with actual housing needs secure a residence. A total of 500,000 apartments will be supplied over five years, subdivided into Sharing Type, Selective Type, and General Type.

[Photo by Real Today]

The pre-subscription targets this time are the Sharing Type and General Type. The ‘Sharing Type’ features a sale price below 70% of the surrounding market price and offers loans up to 500 million KRW with interest rates ranging from 1.9% to 3.0%, which is expected to attract high interest from actual demanders.

According to Real Today, a real estate research firm, in the third week of February, subscription applications will be accepted for a total of 4,623 households nationwide across 9 locations (including pre-subscription and private rental, excluding Happy Housing).

About 70% of the total supply next week is concentrated in the metropolitan area. Pre-subscription will take place at three locations: ‘Yangjeong Station Area S5 Sharing Type’ (549 households) and ‘Namyangju Jinjeop2 A7 General Type’ (372 households) in Namyangju, Gyeonggi Province, and ‘Goyang Changneung S3 Sharing Type’ (877 households) in Goyang, Gyeonggi Province.

In addition, subscription applications will be accepted at four locations: ‘Sewoon Prugio Hericity’ (40 households) and ‘Hillstate Sewoon Central’ (99 households) in Jung-gu, Seoul; ‘Suwonseong Joongheung S-Class’ (593 households) in Suwon, Gyeonggi Province; and ‘The Sharp Arte’ (770 households) in Michuhol-gu, Incheon.

In the provinces, subscription applications will be accepted at two locations, including ‘Seongsan Samjeong Green Core Wellrest Phase 2’ (608 households) in Changwon, Gyeongnam Province.

Winner announcements will be made at two locations, and official contracts will be conducted at four locations.