GH: 93.9% of Gyeonggi Residents Support Expansion of Installment-Based Equity Accumulation Housing Supply

Gyeonggi Housing and Urban Development Corporation (GH) has found that there is significant interest among Gyeonggi Province residents in its "installment-based equity accumulation housing" (also known as savings housing).

On June 12, GH announced the results of a survey of 800 residents in the province who do not currently own a home. According to the survey, 93.9% of respondents supported the expansion of savings housing supply, and 92.0% agreed on the necessity of the policy. In addition, 91.4% said the program would be helpful for actually obtaining a home, and 89.9% believed it would be effective in ensuring housing stability.

The installment-based equity accumulation housing allows buyers to acquire an initial partial share (10?25%) of a home at a low price and live in it, then gradually purchase the remaining shares over a period of 20?30 years, similar to making regular savings deposits. GH is the first in the nation to implement such a program.

Gyeonggi Housing and Urban Development Corporation

Respondents cited the main advantage of this housing model as the low initial financial burden, as well as the ability to accumulate funds over time, making homeownership more accessible.

Meanwhile, preferences regarding the desired share percentage, acquisition intervals, and rental payment methods varied depending on factors such as age, marital status, whether respondents had children, and income level.

This survey was commissioned by GH and conducted by Korea Research to help establish supply plans and review directions for institutional improvements regarding installment-based equity accumulation housing.

GH is currently conducting a pilot project with 240 units of installment-based equity accumulation housing in the Gwanggyo A17 block, with plans to supply them in the first half of next year.

Lee Jongseon, acting president of GH, stated, "This survey has demonstrated both the high level of public interest in installment-based equity accumulation housing and the policy's justification. We will actively pursue expansion of supply in the future and further strengthen institutional foundations centered on actual demand."