SH Corporation Opens Reservations for 'Half-Price Apartments' at Magok 10-2 Complex Starting the 16th

Seoul Housing and Communities Corporation (SH Corporation) announced on the 12th that it will start accepting pre-reservation applications for land leasehold sale housing in Magok District 10-2 Complex from the 16th.

Aerial view of Magok District Complex 10-2. [Image provided by SH Corporation]

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 the buildings is acquired by the buyers. Residents can live stably for up to 80 years (40 years + 40 years) through a renewal after living for 40 years.

Pre-reservations are conducted through the SH Internet Subscription website. Special supply applications are accepted from the 16th to the 17th, and general supply applications from the 18th to the 19th. The announcement of successful applicants will be on November 2nd.

The total supply this time is 260 households (exclusive area 59㎡). Of the total supply, 208 households, which is 80%, will be specially supplied to youth, newlyweds, and first-time homebuyers.

The estimated building sale price for Magok District 10-2 Complex with an exclusive area of 59㎡ is approximately 311.19 million KRW, and the estimated monthly land lease fee is 697,600 KRW.

The pre-reservation announced prices are estimated prices, and the actual building sale price and land lease fee will be determined at the time of the official subscription announcement for residents.

Location map of Magok Complex 10-2. [Image provided by SH Corporation]

Eligibility for application requires applicants to be members of a household without a home residing in Seoul, Gyeonggi, or Incheon as of the pre-reservation resident recruitment announcement date, and they must be subscribers to housing subscription savings (comprehensive housing subscription savings or subscription savings).

However, in Magok District, in the case of competition within the same priority rank, 100% of the supply will be preferentially allocated to Seoul residents. Any remaining supply after Seoul residents’ applications will be supplied to residents of Gyeonggi and Incheon.

Kim Heon-dong, President of SH Corporation, said, “We ask for great interest in the housing supplied at reasonable sale prices in the pleasant residential environment of Magok District. We will continue to supply high-quality ‘Baeknyeon Jutaek’ (Century Housing) buildings not only for the housing stability of low-income people but also for young people, newlyweds, and other early-stage social members.”

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