[Real Estate Finance] New: Can You Apply for Both Subangsa and Godeok Gangil 3 Complex Simultaneously?

Choose according to conditions: Sharing type, Selective type, General type
In case of duplicate wins, the one with the earlier announcement date is recognized

The government's expansion of the supply volume and timing of New:Home public sale housing this year has sparked strong interest among demanders looking for opportunities to purchase their own homes at prices cheaper than market value. Among the three types (Nanum-type, Selective-type, General-type), applicants can choose according to their circumstances, but since the detailed ratios of special and general supply differ, it is essential to carefully check eligibility for subscription and whether multiple subscriptions are allowed.

New:Home Layout of the Capital Defense Command Site in Dongjak-gu, Seoul / Image provided by the Ministry of Land, Infrastructure and Transport

◆ "Multiple subscriptions allowed if winner announcement dates differ"

First, to apply for New:Home subscription, income and residency requirements must be met. Depending on the supply type, the applicant, spouse, or immediate family members must be without a home, and at the same time, must be subscribers to the Housing Subscription Savings account. There must be no past cases of winning multiple times or disqualified wins, and applicants must have resided in the relevant area from the time of the preliminary subscription through the main subscription.

Income requirements for youth (unmarried, 19?39 years old, without a home) are a monthly average income of 140% or less of the urban worker average, and net assets of 260 million KRW or less. For newlyweds, defined as couples married within 7 years or with children aged 6 or younger, the monthly average income must be 130% or less, and net assets 340 million KRW or less. For first-time homebuyers, those with spouses or children who have paid income tax for at least 5 years qualify. Income and asset criteria are the same as for newlyweds.

If a youth registered on the resident registration certificate with parents who own a home meets the relevant requirements as of the recruitment announcement date, they can apply for special supply. However, the parents' total assets will be verified regardless of divorce status or other factors.

When subscription schedules for two or more complexes overlap, applicants may want to apply to multiple sites, which is allowed if the winner announcement dates differ. For example, in this month's 2nd preliminary subscription, one can apply to Subangsa in Dongjak-gu, Seoul (winner announcement on July 5) and Godukgangil 3 Complex in Gangdong-gu (July 12). In case of multiple wins, the earlier announcement date is recognized.

On the other hand, New:Home complexes in Wangsuk, Namyangju-si, and Maegok, Anyang-si have the same winner announcement date of the 13th of next month, so multiple applications are not allowed. If multiple subscriptions are made by mistake and the applicant wins more than once, all wins will be disqualified.

Also, among members of the same household without a home, only one person can apply for both special and general supply of a specific New:Home. However, if parents own a home and are in the same household as their children, only the child's youth special supply application is allowed. If parents (without a home) and children are in separate households, one parent and the child can simultaneously apply to the same New:Home. If one wins the special supply preliminary subscription, they are excluded from selection in the general supply.

◆ Residency obligation periods differ by type... 'Provincial' supply planned for next year

Regarding supply and selection methods, priority supply accounts for 80% of the general supply volume and targets first-priority subscribers of housing subscription savings (comprehensive housing subscription savings and subscription savings). If the supply area is in the metropolitan area, the subscriber must have been enrolled for over one year and have made at least 12 monthly payments.

In case of competition, a sequential system applies. For houses with exclusive area over 40㎡, priority is given to those who have been home-free household members for over 3 years and have the highest total savings (up to 100,000 KRW per month recognized). Remaining supply after priority supply results is allocated by lottery.

Post-win residency obligations differ by type. Nanum-type homes are sold at 70% or less of market price from the start, with a mandatory 5-year residency. Upon resale, 70% of the capital gains are guaranteed. Selective-type homes allow residents to live at rent cheaper than market price for 6 years, after which they can choose whether to purchase. General-type homes are subject to price ceiling regulations and are sold at about 80% of market price.

Additionally, those who forfeit their New:Home preliminary subscription win or are disqualified, along with their household members, are restricted from winning for 6 months from the winner announcement date.

An official from the Ministry of Land, Infrastructure and Transport stated, "Residency period requirements vary depending on the size, location, and designation as a speculative overheated district of the housing construction area, so it is essential to check the subscription announcement carefully." He added, "We plan to maintain a similar level of New:Home preliminary subscription supply next year. Considering market and land supply conditions, provincial supply will also be included."