“I am working at an overseas branch. Can I apply for subscription?”[부동산 빨간펜]

Subscription requirements vary depending on the type of housing
Priority supply to residents of the area
There is no subscription limit if you are on a short-term assignment overseas.
Check the household head requirement when a couple applies for multiple subscriptions

On the afternoon of the 4th, apartments and villa villages are visible in the city center as seen from Namsan in Jung-gu, Seoul. 2024.8.4 News 1

Reporter Kim Ho-kyung

As housing prices are rising, especially in Seoul apartments, the distribution market is heating up. In the first half of this year (January to June), the average competition rate for subscriptions to Seoul apartments was over 100 to 1. Interest in subscriptions is higher than ever, but since the subscription system changes so frequently, many readers are wondering how to apply for which type. This week’s Real Estate Red Pen has collected the basic concepts of housing subscriptions and questions from readers about subscriptions.

Q. When I look at the notice for recruiting tenants, there are so many unfamiliar terms that it is difficult to understand what they mean. I am afraid to apply right away because I hear that I will be disadvantaged if I am disqualified.

A. First, you need to understand the basic concept of subscription. First, you need to know the types of housing. Depending on the provider, housing is divided into ‘public housing’ and ‘private housing’. Public housing refers to apartments built by the government, local governments, Korea Land and Housing Corporation (LH), and Seoul Housing and Urban Corporation (SH). Public housing is built only with an exclusive area of ​​85㎡ or less (100㎡ or less for towns and townships) and is also called ‘public housing’. Although the legal basis is different, it is okay to understand it as having the same meaning as public housing in the subscription market. Excluding public housing, all the rest are private housing. Apartments with construction company brands such as Raemian and DH fall into this category and there is no area restriction.

You need to know the type of housing because the subscription qualifications, occupant selection methods, etc. are different. The first priority requirement is typical. To be first in the public housing subscription, you must have a subscription account subscription period of 1 year and more than 12 payments. This is based on the metropolitan area, but in regulated areas such as Seoul’s ‘Gangnam 3-gu (Gangnam, Seocho, Songpa-gu)’ and Yongsan-gu, the requirements are stricter, with a subscription period of 2 years or more and more payments of 24 times.

The first priority requirement for private housing is that you have been subscribed to a subscription account for at least 1 year (based on the metropolitan area) and that your deposit exceeds a certain amount. The amount criteria vary by region and apartment area, but the maximum is 15 million won. If it is a private house built in a regulated area, you must have been subscribed to a subscription account for 2 years to be eligible for first priority. Whether it is public housing or private housing, if you do not meet the first priority requirement, you will be given second priority. You can still apply for second priority, but if there is competition, your chances of winning will be lower.

The method of selecting general supply residents is also different. The basic principle of public housing is the ‘ranking sequential system’ that selects winners in order of the highest subscription account deposit amount. The ranking sequential system is applied first, and then the remaining units are drawn. On the other hand, private housing first selects winners using the ‘point system’ that considers the period of non-homeownership, subscription account subscription period, and number of dependents, and then draws the remaining units.

Q. I live in Bucheon-si, Gyeonggi-do. Can I apply for general supply of apartments in Gangnam-gu, Seoul?

A. You can apply, but the chances of winning are very low. The area of ​​residence is a key factor in determining success or failure within the same ranking. You can apply only if you live in the city/county (region) where the complex you want to apply for is located or in a nearby area. There are also cases where there is a requirement for the period of residence to be recognized as a resident of the area. In the case of Seoul, you must have resided for more than 2 years from the date of the announcement of recruitment of residents. There are separate criteria for nearby areas. The metropolitan area, including Seoul, Incheon, and Gyeonggi, is the same area. The areas near Seoul are Incheon and Gyeonggi, and the areas near Gyeonggi are Seoul and Incheon.

The problem is the possibility of winning. It is supplied to residents of the area first, and if there is any surplus, it is supplied to residents of nearby areas. This principle applies regardless of the type of housing, from general supply to special supply. Therefore, if you, a reader living in Bucheon City, apply for an apartment in Gangnam, Seoul, you will be classified as a resident of nearby areas. These days, in popular areas like Gangnam, competition among residents of the area is fierce, so residents of nearby areas have almost no chance of winning.

Q. I am a single reader in my 30s living overseas. I used to live with my parents, but I have been overseas for work-related reasons for the past year. My registered address is my parents’ house, and I plan to return to Korea soon. Can I apply?

A. If you live overseas for more than 90 consecutive days or if you stay overseas for more than 183 days in total in one year, you are classified as an overseas resident. If you enter Korea briefly and stay there for less than 7 days, you are considered to have stayed overseas continuously. Overseas residents are often not eligible for subscription support or are at a disadvantage. Even if you have lived in the area for more than 2 years based on your registered address, if you are an overseas resident, you will lose priority supply eligibility.

However, there are exceptions to the recognition of domestic residents even if they reside overseas. This is the case when a company or organization employee leaves their family behind in Korea for work-related reasons and resides overseas alone (single-person assignment). If recognized as a single-person assignment, they can apply without any application restrictions due to overseas residence.

Q. I saw a news article earlier this year saying that ‘double application by couples’ was now possible. If a couple applies for both special supply and general supply, can they apply for one complex a total of 4 times?

A. You can’t apply for all complexes 4 times. It’s because of the household head requirement. Among the special supplies, only the head of household can apply for the elderly parent support and first-time homebuyers. This means that only one of the couples who is the head of household can apply for these types.

Also, only the head of household can qualify for the first round of general supply in regulated areas. Of course, household members can apply for the second round of general supply, but since regulated area applications tend to be very competitive, second round applications should be considered as being excluded from the winning ticket.

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2024-08-30 13:45:28