'Half-Price Apartment' Godeok Gangil 3rd Complex, 2nd General Supply Competition Rate 34 to 1

The second round of advance reservations for general supply of land leasehold sale housing in Godeok Gangil Complex 3 recorded an average competition rate of 34 to 1.

Seoul Housing and Communities Corporation building exterior
Photo by Seoul Housing and Communities Corporation

On the 30th, Seoul Housing and Communities Corporation (SH Corporation) announced that 4,098 people applied for 119 households supplied in the second round of advance reservations for general supply of 49㎡ exclusive area the day before. In the special supply advance reservations that were accepted earlier, 6,681 people applied for 471 households, showing a competition rate of 14 to 1.

By type, the youth special supply attracted 4,967 applicants for 88 households, resulting in the highest competition rate of 56 to 1. This was followed by newlywed couple special supply at 5 to 1 and first-time homebuyer special supply at 4 to 1. The overall competition rate combining special supply and general supply was 18 to 1, with 10,779 applicants for 590 households supplied.

SH Corporation will verify subscription savings accounts and announce the winners on July 12. Afterwards, additional screening will be conducted to confirm residents based on eligibility criteria such as residency qualification, income, assets, and non-homeownership.

Land leasehold sale housing, known as "half-price apartments," is a type of sale housing where the public owns the land and the ownership of buildings and other structures is acquired by the buyers. Residents can live for 40 years and, through renewal (40 years), can live for up to 80 years.

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