[Practical Finance] Same Block Special Supply and General Overlap Allowed... Pre-Subscription Q&A

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[Asia Economy Reporter Kim Hyemin] It is important to note that only one member of the same household can apply for the preliminary subscription in the 3rd phase new towns and public housing sites. Even if you applied for special supply, you can apply for general supply only for the same apartment. Those who have already won the preliminary subscription should not apply again this time. If selected, they will be considered ineligible winners and may be restricted from applying for other public preliminary subscriptions for one year. We have answered frequently asked questions about the preliminary subscription in a Q&A format.

- Can I apply for both special supply and general supply?

▲ It is possible to apply for one special supply and one general supply within the same block. However, if you are selected as a winner of the special supply preliminary subscription, you will be excluded from the general supply selection. Institutional recommendation special supply candidates (including national merit special supply) apply with confirmed winning status, so they cannot apply for other special supplies or general supply simultaneously.

- Can husband and wife, or parents and children apply separately?

▲ If the applicant or one or more members of the same household as the applicant apply for overlapping or cross applications, all applications will be invalid or considered ineligible.

- How are general supply winners selected?

▲ First priority winners are selected from household members without home ownership for more than three years, with the highest total savings amount. Here, the total savings amount refers to the Housing Subscription Comprehensive Savings or Subscription Savings, with a maximum of 100,000 KRW recognized per month. Competition within the second priority is decided by lottery. Those who have subscribed to subscription savings or installment savings cannot apply for public preliminary subscription general supply.

- Are there income and asset criteria for general supply like special supply?

▲ Asset criteria apply to public sale houses with exclusive area of 60㎡ or less. As of this year, the monthly average income must not exceed 100%, which is 6,208,934 KRW for households of three or fewer and 7,208,090 KRW for four-person households. Real estate assets, including land and buildings, must be 215.5 million KRW or less. The value of automobiles must not exceed 35.57 million KRW. After being selected as a preliminary subscription winner, income and asset requirements are not additionally reviewed.

- Can preliminary subscription winners apply for other main subscriptions in the future?

▲ Public preliminary subscription winners and members of their households can apply for general main subscriptions. However, if they win the general subscription, their public preliminary subscription win will be canceled. Generally, they cannot be selected as winners of other private housing preliminary subscriptions, but if they give up their public preliminary subscription win before the announcement date, they can be selected as winners of private housing preliminary subscriptions.

- Can I apply even if I do not reside in the relevant area?

▲ Basically, you must reside in the relevant area or the metropolitan area to qualify for the preliminary subscription. However, Pyeongtaek Godeok District, one of the preliminary subscription targets, is an internationalization planning district, so applications can be made from anywhere nationwide.

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