Seoul Housing and Communities Corporation (SH Corporation) announced that the winning threshold for general supply in the pre-reservation of land leasehold sale housing in Magok District 10-2 Complex, which was received from the 16th to the 19th of last month, was 23.76 million KRW based on the local area.
SH Corporation revealed on the 2nd that the average subscription savings amount for general supply in the pre-reservation winner selection results of the land leasehold sale housing in Magok District 10-2 Complex, a pilot project of the Yoon Seok-yeol administration’s public sale housing policy brand ‘New:Home,’ was 24.97 million KRW.
The pre-reservation for Magok District 10-2 Complex attracted about 18,000 applicants for a total of 260 households, recording the highest competition rate (youth special supply) of 187 to 1 and an average competition rate of 69 to 1. The special supply competition rate was 53 to 1, and the general supply was 133 to 1.
As a result of the winner selection, the subscription savings amount for general supply winners was ▲ an average of 24.97 million KRW ▲ a maximum of 31.61 million KRW. The winning lower limit was for members of a non-homeowner household for more than three years, with a savings amount of 23.76 million KRW (lottery among those with the same amount), and all were closed to residents of Seoul.
For the special supply, the youth category selected winners by lottery among perfect score holders: ▲ priority supply (perfect score 9 points) 9 points ▲ remaining supply (perfect score 12 points) 12 points. The newlywed couple category conducted a lottery at ▲ priority supply (perfect score 9 points) 9 points ▲ remaining supply (perfect score 12 points) 11 points, and the first-time homebuyer category selected all winners by lottery.
The Magok District 10-2 Complex supplied by SH Corporation is a ‘land leasehold century house,’ where the land is publicly owned, and the above-ground building is owned by the purchaser as a public sale housing. It was introduced to serve as a ‘housing ladder’ guaranteeing homeownership for non-homeowning citizens who lack initial funds to purchase housing by allowing them to buy high-quality housing at reasonable prices.
SH Corporation plans to conduct a final confirmation by reviewing whether the winners meet the selection criteria such as income, non-homeownership, and assets.
Kim Heon-dong, President of SH Corporation, said, “To ensure housing stability for Seoul citizens and innovate Korea’s construction culture, SH will continuously promote what it does well, such as disclosure of sale costs, disclosure of design drawings, post-sale system, direct construction system, and appropriate wage system,” adding, “As a token of gratitude for the support given to the building sale housing (land leasehold sale housing) in Magok District 10-2 Complex, we will build high-quality ‘houses that can be used for over a hundred years.’”
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