GH, the Nation's First 'Equity Accumulation Public Housing' with 240 Units Supplied in Gwanggyo... Groundbreaking in 2025

Gyeonggi Housing and Urban Corporation

Gyeonggi Housing and Urban Corporation (GH) will supply 240 units of the country's first 'equity accumulation type' public sale housing in a post-sale form in Gwanggyo New Town, Suwon. GH plans to offer these houses at cost plus minimal profit and expand the equity accumulation type public housing to the 3rd phase new towns and other areas.

On the 4th, GH President Kim Seyong held a press conference at the Suwon Convention Center and stated, "We decided to introduce the Gyeonggi-do style equity accumulation type public sale housing to Gyeonggi-do for the first time in Korea to lower the barriers for citizens to enter homeownership, enable asset accumulation, alleviate housing cost burdens, and provide opportunities for housing stability."

The equity accumulation type public sale housing allows buyers to acquire 25% equity of the house at move-in and gradually acquire additional equity over the next 20 years to fully own the home. The estimated sale price for a 25-pyeong unit is 500 million KRW as of now. Assuming a deposit interest rate of 2%, the total equity acquisition amount over 20 years would be approximately 590 million KRW.

The mandatory residence period is 5 years, and resale restrictions last for 10 years. After the resale restriction period, transactions with third parties are permitted, and profits are distributed according to equity without additional public recapture. The usage fee for the public equity is set at 80% or less of the surrounding jeonse market price and gradually decreases as the equity acquisition ratio increases.

President Kim Seyong promised, "We will supply 240 units of 25-pyeong equity accumulation type sale housing along with 360 units of 34-pyeong general sale housing in Block A17 of Gwanggyo New Town through post-sale."

He added, "Construction will begin in 2025 with a post-sale schedule in 2028, and we will expand the supply of equity accumulation type public sale housing to the 3rd phase new towns and other areas within the province."

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