Competition ratio for public sale 15.0 to 1
Newlyweds Hope Town also has a record of ‘below’
Narrow equity, mortgage obligations
Citizens are waiting for registration at the pre-registration reception desk. photo = Yonhap News
In the second advance subscription for public housing sites in the metropolitan area, the competition rate for Newlyweds Hope Town dropped significantly. Compared to the public sale that was carried out together, it was only one-fifth of the level, and there are some places where it has not been recorded. Compared to the competition rate for special supply for newlyweds in general private condominium apartments, this is a very low level.
According to the Korea Land and Housing Corporation (LH) on the 10th, 11,914 people applied for the recruitment of 4,126 Newlyweds Hope Town in the second pre-order, recording an average competition ratio of 2.9 to 1. It is evaluated that 89,614 people gathered for the recruitment of 5976 households, and it was very low compared to the public sale, which recorded a competition ratio of 15.0 to 1, so it was evaluated that it was ignored by consumers.
The 2nd Pre-order Newlyweds Hope Town was supplied to five areas, including Gunpo, Bucheon, Seongnam, Suwon, and Uiwang, with an exclusive area of 46 to 59 square meters. Of the total of 14 housing types, only 546 people applied for 825 households at 55 m² in Wolam, Uiwang, where 100% of the supply is given priority to residents of the relevant area. Suwon party size 46㎡ also fell short of 38 out of 87 households allocated to Suwon-si residents, and the opportunity was given to applicants from Gyeonggi-do and metropolitan areas.
The places where the competition ratio did not reach 2 to 1 even after additional applications were made was △ Gunpo Daeyami 55 m² (1.8 to 1) △ Bucheon Wonjong 46 m² (1.0 to 1) △ Seongnam Naksaeng 51 m² (1.5 to 1) △ Suwon Dangsu 46 m² (1.4 to 1) △ Uiwang Wolam 55㎡ (1.7 to 1), etc. In particular, 79 people applied for the recruitment of 76 households for the 46㎡ area in Wonjong, Bucheon, and barely escaped the shortfall. Only 59㎡T (terrace) in Naksaeng, Seongnam recorded a double-digit competition rate of 13.9 to 1.
The final competition rate for the 2nd pre-registration Newlyweds Hope Town. Photo = Ministry of Land, Infrastructure and Transport
The reason why the Hope Town for Newlyweds was ignored by consumers can be easily found in cafes and chat rooms related to Hope Town for Newlyweds. This is because the community that shared information to apply for the Newlyweds Hope Town continued to criticize the policy.
A newlywed couple who applied for 59㎡T in Naksaeng, Seongnam in a group chat room in the Newlyweds Hope Town said, “The 55㎡ is too cramped to live with a child, but I do not know how to sell 46㎡ and 51㎡. We must not turn away,” he exclaimed. Another applicant also confessed, “From the beginning, I was not interested in the Town of Hope for Newlyweds. It was pushed out because house prices rose too high and loans were blocked.”
Newlyweds Hope Town is only available in flats of less than 60 square meters. However, there are only two rooms, 46㎡ and 55㎡, and the number of 59㎡, consisting of three rooms, is very small. Even in this second pre-order, 59㎡ out of 4126 households was supplied to only 273 households from Gunpo Daeyami and Seongnam Naksaeng, while 55㎡ reached 3412 households. Nevertheless, Gunpo Daeyami is designed as a two-story structure and consists of two rooms and an alpha room.
Unlike public sale, half of the profit must be provided to the government when sold later, which is also the reason why the Town of Hope for Newlyweds is not popular. Newlyweds Hope Town makes it compulsory to subscribe to the ‘Housing Collateralized Long-Term Loan Product (Profit Sharing Mortgage) for Newlyweds Hope Town’ in the case of houses with a sale price of more than 370 million won.
In the past, in the case of Newlywed Hope Town, there were cases where the sale price did not meet this standard, but house prices have risen again and again, and now all apartments exceed this standard. The price of 46m2 in Suwon, the cheapest among the 14 housing types for the second pre-order, was 311.11 million won.
Minister of Land, Infrastructure and Transport Noh Hyung-wook is examining the Model House of 55A Newlywed Hope Town in Gwacheon Knowledge Information Town. photo = Yonhap News
Virtually all New Hope Towns are obliged to sign up for a profit-sharing mortgage. Instead of lending this product up to 70% of the house price at a fixed interest rate of 1.3% per annum, 10-50% of the profit from market capitalization is used as the Housing City Fund. refund If 70% of the house price is borrowed, 50% of the profit will be refunded when selling after 9 years of living without children.
To get a loan of the same size and reduce the repayment amount to 10%, you must have two or more children and live 19 years. In addition, since capital gains tax, etc. are not taken into account in the calculation of capital gains, the tenant must also bear the tax burden.
Newlyweds Hope Town can be applied only if the sum of real estate, financial assets, deposit, and car is 370 million won or less. In the beginning, newlyweds with few assets were to receive a loan equivalent to the sale price and move in, but considering the share of market profit and the tax burden, it is not easy to sell the town of hope for the newlyweds and move to a larger apartment.
An official from the real estate industry said, “The Newlyweds Hope Town is a place where newlyweds who lack the funds they have saved can move in without much burden and have one or two children and live there.” Considering that the balance is so narrow that it is difficult to raise children, and if the children grow up and move to a bigger house, the point that profit sharing is an hindrance is a matter to be seriously considered.”
Meanwhile, the special supply for newlyweds in private apartments supplied by the second new city in the metropolitan area showed high competition. In the ‘Hillstate Gwanggyo Jungang Station First’ newlyweds special supply recently sold in Gwanggyo New Town in Suwon-si, Gyeonggi-do, 21 households were recruited and 2,680 people applied. The average competitive rate alone was 127.6. In ‘Unjeong City Prugio Parsena’, which was supplied by Unjin City, Paju, 2187 people flocked to the special supply for newlyweds who were recruiting 346 households, showing a competition ratio of 6.3 to 1.
Oh Se-seong, reporter at Hankyung.com sesung@hankyung.com
