'Hangang View' Dongjak-gu Subangsa New:Home Pre-Subscription Attracts Over 70,000 Applicants

Special Supply Popularity in Order of Newlywed Couples and First-Time Buyers
General Supply 645 to 1... Highest Ever in Public Sale

The New:Home project on the site of the Capital Defense Command (Subangsa) in Dongjak-gu, Seoul, has completed its pre-sale subscription with the interest of over 70,000 people.

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

The Ministry of Land, Infrastructure and Transport announced on the 23rd that from the 19th to the 22nd, a total of 72,172 people applied for 255 households in the Subangsa New:Home special and general pre-sale subscription, recording an average competition rate of 283 to 1.

New:Home is the new name for public sale housing under the Yoon Seok-yeol administration, aiming to supply 500,000 households during its term. The Subangsa site is the first pre-sale supply district planned for New:Home this year.

First, the special supply held over two days from the 19th to the 20th attracted 21,215 applicants for 176 households, showing a competition rate of 120.5 to 1. By category, newlyweds (210 to 1) and first-time homebuyers (181 to 1) had relatively high competition rates, followed by elderly parent support (59 to 1) and multi-child families (20 to 1).

The competition for general supply was even fiercer. According to the subscription results from the 21st to the 22nd, 59,057 people applied for 79 households, reaching a competition rate of 645 to 1. This is the highest competition rate ever recorded in public sales.

Applicants will undergo verification of their subscription savings accounts, and the preliminary winners will be announced on July 5 based on the selection method according to subscription qualifications. The final winners will be confirmed after additional screening of eligibility criteria such as income and assets.

This month, New:Home projects in Namyangju Wangsuk (932 households), Anyang Maegok (204 households), and Godeok Gangil 3 Complex (590 households) will also be released as sharing-type housing. Eligibility for New:Home pre-sale subscription is based on the announcement date of the resident recruitment notice.