"Existing Special Supply Winners Also Given 'One More Chance for Special Supply Subscription After Childbirth'"

Measures Allowing Residential Relocation at Childbirth

Applied First to Childbearing Households Following the 'Measures to Reverse Low Birthrate' Announcement

Ensuring Newlyweds' Opportunities for Housing Subscription
Excluding Applicants' Pre-Marriage Subscription Winning History

Apartment viewed from Yongsan-gu, Seoul on the 5th. Photo by Jinhyung Kang aymsdream@

"When getting married, many people miss out on benefits for housing subscription or public rental housing sales due to income or asset requirements. Please eliminate the marriage penalty."

On the 19th, the Low Birthrate and Aging Society Committee and related ministries announced "Measures to Reverse the Low Birthrate Trend," conveying voices from the field. To address this issue, the Ministry of Land, Infrastructure and Transport (MOLIT) decided to relax housing subscription requirements for newlyweds and childbearing couples. A MOLIT official stated, "We will convert the marriage penalty applied during sales?such as winning history, no-homeowner conditions, and income requirements?into marriage merits, and also expand special supply opportunities for childbearing households."

First, to allow residential moves upon childbirth, households who have won special supply before but newly gave birth after this measure's announcement will be allowed one additional special supply subscription. However, they must dispose of their existing home before moving in. The special supply types eligible for additional subscription include newborns, newlyweds, multi-child families, and elderly parents.

When providing special supply of public and private housing to newlyweds, the applicant's pre-marriage subscription winning history will be excluded to secure subscription opportunities. Also, the no-homeowner condition, previously required from the time of marriage registration until before the resident recruitment announcement, will be relaxed to only need to be met at the time of the recruitment announcement for newlywed special supply.

For general public sale, a new dual-income standard was established so that the income requirement for dual-income households is twice that of single-income households. Currently, only the standard of 100% of the average monthly urban worker income exists, but a dual-income income standard will be introduced. For the sequential system, the standard is set at 100% for single-income and 140% for dual-income households; for the lottery system, 100% for single-income and 200% for dual-income households.

Support for public rental housing residents will also be strengthened. For households with new births after this year, public rental contract renewals will be allowed for up to 20 years regardless of income or assets until the child reaches adulthood. Additionally, when households with children under age two want to move to a larger home, information on nearby vacant homes will be provided, allowing immediate moves without separate resupply procedures. At this time, conversion between construction rental and purchase rental is also permitted.

To stably supply long-term lease housing to no-homeowner newlywed and childbearing households, income and asset criteria will be lowered. Currently, the income standard is set at 100% of monthly income. A dual-income rule of up to 200% monthly income will be added. Asset criteria, currently set at real estate worth 215 million KRW and vehicles worth 37.08 million KRW, will be relaxed reflecting regional conditions.

A plan for converting rental housing to sale was also introduced. Among households winning the New Home Select subscription, those with new births will be given the opportunity to convert to sale after residing for three years.