[Practical Finance] No Duplicate Applications... Choose Only One Type

Q&A on the 2nd Preliminary Subscription
Disqualification Leads to 1-Year Suspension of Eligibility

For the 2nd round of preliminary subscription, it is important to avoid duplicate applications. Even if you can apply for all special supply categories, you can only choose and apply for one type. However, duplicate applications for special supply and general supply within the same apartment are allowed. Also, those who won the 1st round of preliminary subscription should not apply for this 2nd round. If they do, they will be disqualified as preliminary subscription winners and will be unable to apply for any pre-sale apartments, including both preliminary and general subscriptions, for up to one year. The 2nd preliminary subscription will proceed with application submissions on the 25th of this month, followed by the announcement of winners on the 25th of next month. Winners will be finalized after qualification verification and other procedures. Questions about the 2nd preliminary subscription are introduced through a Q&A with the Ministry of Land, Infrastructure and Transport.

- Can I apply for the preliminary subscription multiple times?

▶ Winners of the preliminary subscription and members of their households are restricted from applying for other pre-sale housing preliminary subscriptions.

- After winning the preliminary subscription, is it possible to purchase another house or apply for the general subscription (main subscription)?

▶ It is possible to apply for and win the main subscription (general subscription) for another house or purchase another house, but in this case, you cannot move into the house won through the preliminary subscription. To move into the preliminary subscription winning house, you must maintain the mandatory residence period and non-homeownership requirements.

- At what level is the sale price of the preliminary subscription location compared to market prices?

▶ All preliminary subscription sites supplied through public land are subject to the price ceiling system, and the prices are about 60-80% of the surrounding market prices.

- Could prices rise significantly at the time of the main subscription?

▶ If land prices or construction costs increase at the time of the main subscription, the sale price may be adjusted, but efforts will be made to minimize fluctuations to the level of inflation to prevent excessive price changes.

- If income requirements were met at the time of preliminary subscription but are exceeded at the time of the main subscription due to salary increases, what happens?

▶ The preliminary subscription reviews income and asset qualifications based on the announcement date of the resident recruitment. After being selected as a preliminary subscription winner, income and asset requirements are not additionally reviewed.

- Is it possible to apply without residing in the relevant area?

▶ Basically, you must reside in the relevant area such as the metropolitan area to apply for the preliminary subscription, and the mandatory residence period must be fulfilled by the time of the main subscription for final confirmation of moving in. However, depending on the size, location of the housing construction area, and whether it is designated as a speculative overheated district, the mandatory residence period and residency requirements may vary, so eligibility should be checked through the subscription announcement.

- Is there a re-winning restriction if you win the preliminary subscription?

▶ Preliminary subscription winners are not subject to re-winning restrictions until the main subscription, but once the final move-in status is confirmed at the time of the main subscription, re-winning restrictions apply.

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