LH Unsold Brushing: 2.8M Won for Contractor Referral
- SEOUL — The Korea Land and Housing Corporation (LH) is rolling out a series of incentives, including brokerage fee payments, to stimulate sales of unsold properties and land,...
- LH is implementing a "pre-sale childhood" system, offering cash payments to licensed brokers and tenants who successfully introduce buyers for LH's shopping malls and housing units.
- According to an announcement by the LH Gwangju Jeonnam Regional Headquarters on May 2, the pre-sale system will apply to unsold malls within the 2 A-1 and 3BL...
Korea Land adn Housing Corp. Introduces Incentives to Boost Sales amid Slump
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- Korea Land adn Housing Corp. Introduces Incentives to Boost Sales amid Slump
- Korea Land & Housing Corp. Introduces Incentives to Boost Sales Amid Slump
SEOUL — The Korea Land and Housing Corporation (LH) is rolling out a series of incentives, including brokerage fee payments, to stimulate sales of unsold properties and land, reflecting challenges posed by the ongoing real estate downturn.
Pre-Sale Incentives for Brokers and tenants
LH is implementing a “pre-sale childhood” system, offering cash payments to licensed brokers and tenants who successfully introduce buyers for LH’s shopping malls and housing units. This initiative aims to address difficulties in securing contractors for properties in the provinces.
According to an announcement by the LH Gwangju Jeonnam Regional Headquarters on May 2, the pre-sale system will apply to unsold malls within the 2 A-1 and 3BL newlywed Hope Town Complex in Gwangju. Real estate agencies, national LH housing contractors, owners, and residents are eligible to receive 2.8 million won per unit for successful referrals.
The incentive program targets specific properties, including units in the Gwangju sunun 2 A-1 block and the 2 A-3 blocks of the gwangju Line.However, sale attraction companies, LH employees and their families, and private stakeholders are excluded from participation.
LH initially offered nine units in December of last year. The Gwangju Sunwoon 2 A-1 units were priced at 3.512 billion won, and the Gwangju Sun-un 2 A-3 units at 255.37 million won, but failed to attract buyers. A second announcement in January also did not resolve the issue of unsold properties, leading to the adoption of these promotional tactics.
Placement Incentives for Land Sales
In addition to housing and mall units, LH is also facing challenges in land sales. The construction industry’s struggles with funding, compounded by the economic recession and project financing (PF) market conditions, have resulted in reduced participation in land bidding. To counter this, LH is actively using an “arrangement incentive” system for unsold land parcels.
These placement incentives involve paying commissions to authorized brokers who successfully facilitate land sales. This functions as an “introduction fee,” with incentives being offered for properties including:
- Dongdu Heaven Industrial Complex Industrial Facility paper (A1 ~ A13)
- Paju unjeong 3, Unjeong Parking Lot and Paju Bridge Neighborhood Living Facility
- Jeju Regional Headquarters (Cheonma Ranch, Coastal Ranch)
the specific incentive amounts are resolute by LH’s “Land Incentive Care Fee by Land Land Incentive Funds.” for instance, the dongdu heaven Industrial Complex industrial Facility Site offers 0.9% of the contract amount, including VAT, as an incentive.The Cheonma Ranch and Coastal Ranch incentives are set at 30 million won each.
LH’s Viewpoint
According to an LH official, the pre-sale and placement incentive systems are designed to boost the sale of land and assets owned by the corporation. The official stated that the implementation of these autonomous pre-sale and placement incentives is based on the specific conditions and comprehensive reviews of each region.
Korea Land & Housing Corp. Introduces Incentives to Boost Sales Amid Slump
What is the Korea Land & Housing corporation (LH) doing?
The Korea Land & Housing Corporation (LH) is implementing a series of incentives, including brokerage fee payments, to boost sales of unsold properties and land. this move is in response to challenges from the ongoing real estate downturn.
What are the Pre-Sale Incentives for Brokers and Tenants?
LH is offering cash payments through its “pre-sale childhood” system to licensed brokers and tenants who successfully introduce buyers for LH’s shopping malls and housing units. This initiative aims to address issues in securing buyers,especially in the provinces.
Where are these pre-sale incentives being offered?
The pre-sale system applies to unsold malls within the 2 A-1 and 3BL newlywed Hope Town Complex in Gwangju.Specific properties targeted include units in the Gwangju Sunwoon 2 A-1 block and the 2 A-3 blocks of the Gwangju Line.
Who is eligible to receive pre-sale incentives?
Eligible participants include real estate agencies, national LH housing contractors, owners, and residents. They receive 2.8 million won per unit for accomplished referrals.
Who is excluded from the pre-sale incentives program?
Sale attraction companies, LH employees and their families, and private stakeholders are excluded from this program.
what are the Placement Incentives for Land Sales?
LH is also offering “arrangement incentives” for unsold land parcels as of struggles within the construction industry due to funding issues, the economic recession, and project financing (PF) market conditions. These incentives involve paying commissions to authorized brokers who facilitate land sales.
Which land parcels are included in the placement incentive program?
- Dongdu Heaven Industrial Complex Industrial facility (A1 ~ A13)
- Paju Unjeong 3, Unjeong parking Lot and Paju Bridge Neighborhood Living Facility
- Jeju Regional Headquarters (Cheonma Ranch, Coastal Ranch)
What are the incentive amounts for land sales?
The specific incentive amounts are determined by LH’s “Land Incentive Care Fee by Land Land Incentive Funds.”
Here’s a summary:
| Property | Incentive |
|---|---|
| Dongdu Heaven Industrial Complex Industrial Facility | 0.9% of the contract amount (including VAT) |
| Cheonma Ranch | 30 million won |
| Coastal Ranch | 30 million won |
What is LH’s viewpoint on these incentives?
According to an LH official, these pre-sale and placement incentive systems are designed to boost the sale of land and assets owned by the corporation.The implementation of these incentives is based on specific conditions and thorough reviews of each region.