SH Corporation to Open Applications for 1,676 Households in Wirye New Town Starting the 30th

Location map of Wirye New Town A1-5BL, A1-12BL.

[Asia Economy Reporter Donghyun Choi] Seoul Housing and Communities Corporation (SH Corporation) announced on the 19th that it will begin recruiting residents for the sale housing units in Wirye New Town A1-5BL and A1-12BL starting from the 30th.

Wirye New Town is a large-scale development project jointly implemented by SH Corporation and Korea Land and Housing Corporation (LH), located at the boundary of Seoul, Seongnam, and Hanam cities. The two blocks being supplied this time are located in the border area between Geoyeo-dong, Songpa-gu, Seoul, and Hanam city.

Regarding the area of each complex, A1-5BL, with 1,282 households, consists of 66㎡ (exclusive area), 70㎡, 75㎡, 80㎡, and 84㎡ units. A1-12BL, with 394 households, is supplied in 64㎡, 74㎡, and 84㎡ units.

In terms of location, the large complex A1-5BL has school sites evenly planned on the south and north sides of the complex, so the educational infrastructure is expected to be excellent. Although A1-12BL is a medium-small complex, it has good residential infrastructure due to easy access to commercial sites and medical facilities on the west side of the complex. Additionally, there is green space between the two complexes allowing direct use of the neighborhood park, and Starfield and E-Mart are located on the southeast side of the complex, providing excellent access to cultural life and daily conveniences.

Transportation conditions are also favorable. Both complexes are close to Songpa IC, allowing access to the Seoul Ring Expressway, and a streetcar line between Unam and Macheon is expected to pass on the west side of A1-5BL. Seoul Subway Line 5’s Geoyeo Station and Macheon Station are connected within about 10 minutes by village bus.

The average sale price per household is determined under the price ceiling system according to the Housing Act, with A1-5BL priced between 519.36 million KRW and 657.10 million KRW. A1-12BL is priced between 510.7 million KRW and 654.89 million KRW. The resale restriction period is 10 years from the date of winning (if ownership transfer registration is completed, it is considered as 3 years after completion), and the mandatory residence period is 5 years from the earliest possible move-in date.

The sale housing units supplied in Wirye New Town this time are large-scale land development districts, with 50% preferentially supplied to Seoul residents who have continuously lived in the city for more than 2 years, and the remaining 50% supplied to residents in the metropolitan area (Seoul residents under 2 years, Gyeonggi, Incheon). If Seoul residents with more than 2 years of continuous residence fail to win in the preferential supply, they will compete again with metropolitan area residents for the remaining 50% quota.

General sale subscription eligibility applies to “household members without homeownership” residing in the metropolitan area (Seoul, Incheon, Gyeonggi) as of the date of the resident recruitment announcement. Priority 1 applies only to applicants who are household heads, have subscribed to the savings for more than 2 years, and have paid monthly installments at least 24 times, with all household members without homeownership not subject to re-winning restrictions. Priority 2 applies to those who have subscribed to the savings. In case of competition within Priority 1, applicants with more than 3 years as household members without homeownership and higher total savings (recognized payment amount) will be selected as winners.

For special supply, 500% of the number of special supply units will be selected as special supply reserve residents through a lottery. If contract cancellations or disqualifications occur among special supply winners, the corresponding units will be sequentially supplied to the special supply reserve residents. In particular, the supply ratio for first-time homebuyers has been increased from the existing 20% to 25%, providing more opportunities for real demanders hoping to own a home.

To prevent the spread of COVID-19, this subscription will only accept internet applications through the Korea Real Estate Board’s subscription homepage or SH Corporation’s website. Applicants must check in advance whether their public certification has expired and whether the authentication process proceeds properly. The model house will be replaced by a cyber model house, and only contract holders can verify the actual housing through a pre-opening event before moving in. The cyber model house and electronic pamphlet can be viewed on the SH Corporation website.

The subscription schedule is as follows: special supply applications for multi-child families and elderly parent support will be accepted from the 30th to December 1st, and general sale applications will be accepted on December 10th. The announcement of winners and allocation of building and unit numbers for both special and general sales will be posted on December 16th on the subscription homepage and SH Corporation website. The contract period is scheduled from March 15 to 24, 2021. Move-in is scheduled for August 2021.

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