GH promotion, the first equity-based pre-sale house in the country, the competition rate is '100:1'

(Suwon = Yonhap News) Reporter Choi Jong-ho = Gyeonggi Housing Corporation (GH) announced on the 11th that it closed the first priority general supply subscription for 72 households (59㎡) of the nation's first equity-based pre-sale housing in Block A17 (600 households in total) in Gwanggyo New Town, Suwon, and recorded a competition rate of 100.5 to 1 with 7,233 applications.

11,985 applications were received for the special supply of 168 units (59㎡) of equity-based pre-sale housing, showing a competition rate of 71.3 to 1.

This subscription application was conducted from the 9th of this month to this day.

An equity-accumulating pre-sale house is a public pre-sale house in which the buyer acquires only a portion of the stake (25%) at a sale price that is at the cost level, resides in it, and acquires the remaining stake (75%) in installments over 20 years, just as one makes a lump sum by paying in installments.

In addition to the initial share acquisition cost, rent for using publicly owned shares must be paid separately, and when additional shares are acquired, the acquisition price is calculated based on the initial housing supply price plus period interest.

A 5-year actual residence obligation and a 10-year resale restriction also apply.

Gyeonggi Province plans to expand equity-based sales housing to the 3rd new town following Gwanggyo A17 Block.