'Half-Price Apartments' Godeok Gangil 3 Complex... Special Supply Competition Ends at 14 to 1

Seoul Housing and Communities Corporation (SH Corporation) announced on the 28th that the pre-registration for the special supply of land leasehold sale housing (New:Home Sharing Type) in Godeok Gangil 3 Complex recorded an average competition rate of 14 to 1, with 6,681 applicants for 471 units of exclusive 49㎡.

Aerial view of Godeok Gangil 3 Complex, Gangdong-gu, Seoul [Photo by Seoul Housing & Communities Corporation]

By category, the Youth Special Supply attracted 4,967 applicants for 88 units, recording the highest competition rate of 56 to 1. The Newlywed Couple Special Supply had 1,145 applicants for 236 units, and the First-Time Homebuyer Special Supply had 569 applicants for 147 units, recording competition rates of 5 to 1 and 4 to 1, respectively.

Land leasehold sale housing is a type of sale housing where the public owns the land, and the ownership of buildings, etc., is acquired by the buyer. Residents can live for 40 years and extend their stay up to a maximum of 80 years through contract renewal. The estimated sale price for the exclusive 49㎡ units in Godeok Gangil 3 Complex is about 314 million KRW, and the estimated monthly land lease fee is 350,000 KRW.

Applications for the general supply of this complex will be accepted from 10:00 on the 28th to 17:00 on the 29th. The general supply is open to non-homeowners residing in Seoul, Gyeonggi, and Incheon who have subscribed to the housing subscription savings and meet the income and asset requirements (income below 7.62 million KRW for a household of four, assets below 379 million KRW). Among them, those who have subscribed to the housing subscription savings for more than one year and have paid the monthly agreed amount at least 12 times can apply as priority applicants (first priority). For more detailed eligibility requirements, please refer to the resident recruitment announcement.

While online application is the principle, elderly applicants aged 65 or older and persons with disabilities who have difficulty using the internet can use the on-site application office located in the SH Corporation building in Gangnam-gu, Seoul.

SH Corporation plans to announce the winners on July 12 after verifying the appropriateness of the subscription accounts, and after the announcement, will conduct additional screening to confirm final eligibility based on residency qualifications, income, assets, and non-homeownership status.

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