Even if you win the pre-wedding subscription, apply for a special offer
In case of multiple wins, the first entry is recognized as valid.
Multi-child special power: 3 or more children → 2 children
From now on, couples will be able to apply for multiple housing subscriptions, and their combined annual income will increase to 160 million won. Regardless of whether you are married or not, if you give birth to a newborn baby, you are eligible for special provision from public housing. The Ministry of Land, Infrastructure and Transport announced on the 24th that the subscription system, which has been criticized as a ‘marriage penalty’ because the annual income standard is significantly lower when married than when living alone, will have was relaxed and came into effect from the 25th.
The main point of the amendments to the ‘Rules on Housing Supply’ and ‘Rules for the Enforcement of the Special Act on Public Housing’ is to remove the ‘disadvantages’ of marriage and change the subscription system so that households with children have more opportunities to buy their homes themselves.
Under the special conditions, the spouse’s earnings in subscriptions and history of home ownership prior to marriage registration are no longer taken into account. For example, if you have won a special offer for the first time in your pre-marriage life, but have abandoned the contract for financial reasons, you can currently only win a special offer once a generation, so even if you get married, the spouse must also give up the newlywed special offer. From now on, the spouse’s subscription earning history will not be applied, so the spouse can apply for the newlywed special offer.
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Public relations center of Korea Land and Housing Corporation (LH) Goyang Business Headquarters in Goyang-si, Gyeonggi-do. 2023.2.20. random news
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Public relations center of Korea Land and Housing Corporation (LH) Goyang Business Headquarters in Goyang-si, Gyeonggi-do. 2023.2.20. random news
If a couple applies separately for the subscription issued on the same day and wins multiple times, both will be invalidated. However, in future, in case of multiple winnings, the first applied application will be processed as a valid one, expanding the opportunity for couples to apply twice. The combined annual income of dual income couples will rise from the current 120 million won to the 160 million won. It is raised to twice as much as a one-person household (200% of the average monthly income of urban workers). To date, singles account for 100% of the monthly average of urban workers, but only 140% of two-person households, leading to criticism that marriage is a disadvantage.
A plan to provide incentives for marriage was also included. In the private housing additional points system, only your own subscription account period has been recognised, but in the future, 50% (up to 3 points) can be added to the spouse’s account period. If you and your spouse have subscribed to a bank account for 5 years, previously only one person’s score of 7 was recognised, but in the future, your 7 points plus your spouse’s 3 points will be added to 10 points .
When applying for private sales, only households with three or more children can apply for special multi-child treatment, but in the future, households with two children can also apply. If you have a child born within 2 years of the date of the resident recruitment announcement, you can receive special treatment for newborns. If the income requirement is less than 130 million won, you can also receive a special stepping stone loan for newborns with a loan limit of up to 500 million won and an interest rate of 1.6 to 3.3%.
Reporter Ok Seong-gu
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