Ministry of Land, Infrastructure and Transport Amendment Legislative Notice
Expansion of ‘Additional Point Ratio’ over 85㎡
In the future, the lottery rate for small and medium-sized houses of 85㎡ or less in the regulated area will increase up to 60%.
Instead, for houses over 85㎡, which are in high demand for middle-aged households, the additional point ratio is increased up to 80%.
Considering the recent real estate economic downturn, the conditions for non-ranked subscriptions are also partially relaxed.
On the 14th, the Ministry of Land, Infrastructure and Transport announced the amendment to the “Regulations on Housing Supply” with the same content, and announced that it would give a notice of legislation for 40 days from the 16th. This system reorganization is a follow-up measure to the last ‘plan to supply 500,000 public housing units for housing stability for young people and ordinary people’ and ‘measures once morest current real estate market issues’.
First of all, the additional point system, which is disadvantageous to young households, is partially changed to adjust the ratio of additional points and lottery in overheated speculation districts and areas subject to adjustment.
In the case of subscriptions under 60㎡ and between 60㎡ and 85㎡ in the overheated speculation district, a 100% additional point system has been applied at present, but in the future, the lottery rate will increase significantly with 40% additional points and 60% lottery for less than 60㎡. More than 60㎡ and less than 85㎡ are adjusted to 70% of additional points and 30% of lottery.
Instead, for large houses (over 85㎡) with high demand for middle-aged households, the chances of winning subscriptions were increased by significantly increasing the additional points ratio from the existing 50% additional points and 50% lottery to 80% additional points and 20% lottery.
For areas subject to adjustment, 75% of additional points and 25% of lottery, which were applied equally to areas under 60㎡ and between 60㎡ and 85㎡, are changed to 40% and 60% of lottery for 60㎡ or less, and between 60㎡ and 85㎡ The lottery rate for small equilibrium has been greatly increased with 70% additional points and 30% lottery. In addition, for areas exceeding 85㎡, the ratio of additional points was increased from the existing 30% additional points and 70% by lottery to 50% each of additional points and lottery.
In non-regulated areas, the ratio of points and lottery is the same as before.
In addition, the requirement of ‘residence in the region’ is abolished when applying for non-priority subscription. In addition, it was decided to increase the ratio of prospective residents from 40% or more to 500% or more, and to minimize unranked subscriptions by extending the list of prospective residents from 60 days to 180 days.
Kwon Hyeok-jin, head of the Housing and Land Office of the Ministry of Land, Infrastructure and Transport, said, “Through this reorganization of the subscription system, we expect to increase opportunities to purchase housing suitable for actual needs by age group and to preemptively respond to housing market downturns.” We will institutionalize it,” he said.
