Subscription OK even if not living in the area... 8,900 households to be released

12 Nationwide Subscription Areas
Other Areas Eligible for 1st Priority Application

[Asia Economy Reporter Hwang Seoyul] More than 8,000 housing units are expected to be supplied this year in the ‘nationwide subscription areas’ where applications are possible regardless of residence.

According to the real estate industry on the 8th, a total of 8,913 housing units are scheduled to be supplied this year in 12 nationwide subscription areas. Usually, there are residence restrictions for first-priority apartment subscriptions, but nationwide subscriptions allow applications as ‘other area first priority’ from anywhere in the country. This regulation was relaxed to stabilize housing for relocated companies or public institution workers and to revitalize local economies. By region, these include ▲Chungbuk Chungju Enterprise City (1 location, 1,169 units) ▲Chungbuk Jecheon (1 location, 713 units) ▲Gyeonggi Pyeongtaek (6 locations, 5,163 units) ▲Sejong (3 locations, 1,482 units) ▲Gangwon Wonju Innovation City (1 location, 386 units), among others.

Due to the low entry barriers for subscription conditions, demand in nationwide subscription areas is relatively high. Among the first-priority subscriptions (98,073 applications) for ‘Garak Village 6 and 7 Complex’ in Goun-dong, Sejong City, which was released from rental to general supply last March, the proportion of ‘other area’ subscriptions eligible for nationwide subscription reached 84%. For the 33 units supplied in ‘Garak Village 6 Complex’ with an exclusive area of 59.69㎡A, 23,323 applications were received from other area first-priority applicants alone. The ‘Hillstate Pyeongtaek The First’ in Pyeongtaek City, Gyeonggi Province, which sold out at the end of last December, also had a 63% share of other area subscriptions.

Except for Pyeongtaek, where the entire city is a nationwide subscription area, large-scale supply is practically in its final stages among these subscription areas. Supply in Sejong, as well as enterprise cities (Chungju, Wonju), provincial government relocation new towns (Gyeongbuk Provincial Government New Town, Naepo New Town, Namak New Town), and innovation cities (Wonju, Naju, Gimcheon, etc.) has already ended or only some blocks remain. This month, ‘Seochungju Prugio The First’ in Chungbuk Chungju Enterprise City and ‘Jecheon Xi The Sky’ in Chungbuk Jecheon are scheduled for supply. ‘Seochungju Prugio The First,’ constructed by Daewoo E&C, is a large complex with a total of 1,169 units, combining 1,029 apartments and 140 residential officetel units. ‘Jecheon Xi The Sky,’ supplied by GS E&C, offers a total of 713 units with exclusive areas ranging from 79 to 112㎡.

However, according to the ‘Industrial Location and Development Act (Industrial Location Act)’ and others, there is a possibility that additional nationwide subscription apartments may be supplied in areas where industrial complexes are established.

Kwon Il, head of the research team at Real Estate Info, said, "Nationwide subscription areas undergo various developments in the mid to long term from the perspective of regional balanced development," adding, "House price increases can also be expected in the future due to the influx of external populations." He also added, "Since residents move in after a certain level of development has been completed, the advantage is that infrastructure can be used immediately."

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