You Can Now Win Special Housing Supply Even Without Marriage or Children

Partial Revision of First-Time and Newlywed Special Supply System
30% of Units Allocated by Lottery to Provide Opportunities

[Image source=Yonhap News]

Unmarried single-person households, newlyweds without children, or newlyweds with high incomes will also have a chance to win the ‘First-Time Homebuyer and Newlywed Special Supply (Special Supply)’. Currently, it is virtually impossible for childless couples or single-person households to win the special supply, but some units will be allocated by lottery to alleviate housing insecurity among young people.

The Ministry of Land, Infrastructure and Transport announced on the 7th the ‘Partial Reform Plan for the First-Time Homebuyer and Newlywed Special Supply System’ containing these details and plans to apply it to complexes recruiting residents from November onward. According to the reform plan, 30% of the first-time homebuyer and newlywed special supply units will be allocated by lottery with relaxed eligibility requirements. The ministry explained that this corresponds to about 9% of the total supply volume.

According to the reform plan, single-person households will also be allowed to apply for the first-time homebuyer special supply, which currently only permits households that are married or have children. However, single-person households can only apply for homes of 60㎡ or less. Under the current first-time homebuyer special supply, only those who have never owned a home and whose income is up to 160% of the average monthly income of urban workers, and who are either ‘currently married’ or ‘households with children’ are eligible. For the newlywed special supply, 30% of the units will be allocated by lottery, allowing applications regardless of whether the couple has children.

Dual-income households with high incomes will also be given opportunities to win the newlywed and first-time homebuyer special supply. Currently, only those with incomes up to 160% of the standard can apply, so couples working at large or medium-sized companies have been unable to apply, which has caused dissatisfaction. However, households exceeding the 160% income requirement must pass an asset standard to apply. If the value of owned real estate excluding the jeonse deposit exceeds 330 million KRW, they cannot apply.

To accommodate existing waiting applicants for the newlywed and first-time homebuyer special supply, 70% of the units will be preferentially supplied to existing waiting applicants, and the remaining 30% will be allocated by lottery among households who failed to receive priority supply and newly included applicants.

A Ministry of Land, Infrastructure and Transport official said, "We will immediately begin revising related regulations and expand application opportunities for young people starting with the pre-sale of private housing to be expanded from November onward."

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