LH Gwangju Jeonnam, Additional Public Housing Supply for Seonun 2 District Newlywed Town

Korea Land and Housing Corporation (LH) Gwangju Jeonnam Regional Headquarters (Head Kim Jae-kyung) announced on the 16th that subscription applications will be accepted from the 20th for 223 units of public sale housing in the Gwangju Seonun 2 District Newlywed Hope Town.

The public sale housing in blocks A-1 and A-3 of Gwangju Seonun 2 District is the first Newlywed Hope Town in Gwangju Jeonnam, designed with an exclusive area of 55㎡. At the initial recruitment announcement in February 2022, block A-1 recorded an average subscription rate of 106%, and block A-3 recorded an average of 141%.

The current additional recruitment targets 223 units that were not contracted due to disqualification or other reasons.

This additional supply will proceed with subscription applications starting on the 20th following the recruitment announcement on the 14th, winner announcement on the 22nd, and contract signing scheduled for next month.

Subscription applications can be made by newlyweds married within 7 years or couples with children aged 6 or younger, prospective newlyweds who can prove marriage within one year from the announcement date, and single-parent families with children aged 6 or younger.

Also, only adult household members aged 19 or older residing in Korea without a home can apply under the one household one house rule. Applications are possible regardless of residence, income and assets, subscription savings enrollment, re-winning restrictions, or past special supply winning status.

The sale price ranges from 271 million to 278 million KRW. Without paying intermediate payments, only 10% of the sale price is paid at contract signing, and the remaining 90% is paid upon move-in (scheduled for April 2025), which is a favorable condition for newlyweds and others. Additionally, using the exclusive mortgage for Newlywed Hope Town allows loans at a fixed interest rate of 1.3% per annum, which is also an advantage.

Subscription applications can be made by accessing LH Subscription Plus or the mobile app from the 20th, and subscription consultations and visits to the physical model house are available until the 19th at the housing exhibition hall on the first floor of the LH Gwangju Jeonnam Regional Headquarters.

Asia Economy Honam Reporting Headquarters Reporter Kim Yuk-bong baekok@asiae.co.kr

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