LH Eases Conditions for Apartment Site Sales... Supply Plan to Be Announced on the 16th

Korea Land and Housing Corporation (LH) is easing land sale conditions to promote the supply of residential land and will announce the annual residential land supply plan on the 16th.

According to LH, on the 16th, the Korea Land and Housing Corporation Gyeonggi Regional Headquarters will hold the "2023 Residential Land Supply Plan and Real Estate Market Outlook Briefing." The supply plan is expected to include the monthly supply schedule for 60 residential land parcels in the 3rd phase new towns such as Hanam Gyosan and Incheon Gyeyang.

In recent years, the briefing was held online (via YouTube channel) due to COVID-19, but this year it will be conducted offline. Additionally, since there have been difficulties in selecting supply recipients due to the real estate market downturn, an investment briefing will also be held.

In fact, LH has been facing difficulties in selling residential land since the second half of last year. Among the eight residential land parcels put up for sale through a bidding announcement in December last year, only two parcels?apartment land in Incheon Geomdan and Gyeongbuk Chilgok Buksam District?were sold. The remaining six parcels failed to attract applicants and were auctioned off.

Among the auctioned parcels, many were located in the metropolitan area, including Bucheon Wonjong District, Hwaseong Dongtan 2 District, and Namyangju Jinjeop 2 District.

Accordingly, LH decided to improve the "eligibility evaluation index" applied during the lottery-based residential land sales to expand the range of participating companies. The eligibility evaluation scores public certifications such as eco-friendliness, energy, and construction safety, granting residential land subscription qualifications only to companies that meet or exceed the standard score.

LH introduced a new item called "mutual cooperation evaluation among construction companies," increasing the perfect score from 12 points to 14 points. Also, to encourage wider participation, the standard score was lowered from 5 points to 4 points. Notably, this year, companies scoring 3 points will be temporarily accepted.

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