New: Home First Pre-Subscription... General Supply Maximum Competition Rate '82.4 to 1'

Final Average Competition Rate 15.1 to 1
Winner Announcement March 30
Pre-Subscription for Godeok Gangil 3rd Complex Next Week

[Asia Economy Reporter Kim Min-young] The Ministry of Land, Infrastructure and Transport announced on the 20th that the average competition rate for the general supply of the 'New:Home Preliminary Subscription' closed at 28.3 to 1, with the highest competition rate by housing size reaching 82.4 to 1 (Goyang Changneung 84㎡).

The competition rate by general supply type was 34.8 to 1 for the Nanum type and 12.1 to 1 for the general type, with the Nanum type showing a higher rate similar to the special supply. By region, Goyang Changneung recorded a competition rate of 46.2 to 1, higher than Yangjeong Station Area (16.6 to 1) and Namyangju Jinjeop 2 (12.1 to 1).

The final average competition rate combining special supply and general supply was 15.1 to 1, with 27,153 applicants for 1,798 units supplied.

The final competition rate by type was 17.4 to 1 for the Nanum type and 6.2 to 1 for the general type. By region, Goyang Changneung recorded 23.7 to 1, Yangjeong Station Area 7.4 to 1, and Namyangju Jinjeop 2 6.2 to 1.

This preliminary subscription is the first supply of the Yoon Seok-yeol administration's public sale housing (New:Home) for low-income and young people. The Ministry of Land explained that the Nanum type, which offers prices lower than market value and supports low-interest mortgage benefits, attracted high interest. In particular, the subscription results by age showed that those in their 20s and 30s accounted for 70.9%, and the youth special supply recorded a high competition rate of 36.5 to 1.

Applicants will undergo verification of eligibility such as the appropriateness of the subscription savings account, and winners will be announced first on March 30 according to the selection method by subscription qualification. Additional screening will be conducted to confirm compliance with income and non-homeownership criteria.

Won Hee-ryong, Minister of Land, Infrastructure and Transport, said, "The high competition rate of the Nanum type, introduced as a new subscription model, reflects the demand of applicants who want to expand opportunities for home ownership among low-income households while reducing the burden of sale prices."

The Ministry of Land plans to conduct preliminary subscriptions for the Seoul Godeok Gangil 3 Complex next week.

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