Capital Region and Provincial Metropolitan Cities Expand Preliminary Winner Ratio to 300%

[Asia Economy Reporter Yoo In-ho] The ratio of preliminary winners for housing supplied not only in speculative overheated zones such as Seoul but also in the metropolitan area and provincial metropolitan cities will be expanded to 300% starting from the 16th.

The Ministry of Land, Infrastructure and Transport announced on the 6th that considering the increasing interest and applications for non-sequential subscription mainly in non-regulated areas of the metropolitan area and metropolitan cities, it plans to minimize non-sequential subscriptions by expanding the preliminary winner ratio from the previous 40% to 300%.

Even after the main subscription and selection of preliminary winners, if there are remaining units due to non-contracts or disqualification cancellations, the project owner will conduct non-sequential subscriptions through a public method (internet application).

Currently, in speculative overheated zones such as Seoul, preliminary winners have been selected up to 500% of the total supply since May last year, but going forward, this will be significantly expanded to 300% in overheated subscription areas, the metropolitan area, and provincial metropolitan cities.

If the expanded areas overlap with speculative overheated zones, the strengthened 500% ratio will be applied. These are areas subject to adjustment under Article 63-2 of the Housing Act where subscriptions have been overheated or are expected to be overheated; as of March, the adjustment target areas are the same as overheated subscription areas.

The Ministry of Land, Infrastructure and Transport expects that with the significant expansion of preliminary winners, if the initial winners give up their contracts or disqualified units arise, lower-ranked applicants within the 1st and 2nd priority will have the opportunity to contract, thereby increasing the contract rate and minimizing non-sequential subscription units. In fact, in Seoul, after the expansion of preliminary winners, the non-sequential subscription units decreased sharply to about 1.2% of the total supply.

This measure will be applied from complexes with resident recruitment announcements made after the 16th by improving the subscription system (Subscription Home) without separate legislative amendments.

This content was produced with the assistance of AI translation services.