An unranked and re-supply subscription for 6 households is being offered at two Cheolsan Xi complexes in Cheolsan-dong, Gwangmyeong-si, Gyeonggi Province.
The large gap between the initial sale prices and recent transaction prices has drawn attention, but the funds required after winning and the residency requirements differ by complex.
Applying based only on the sale price could make it difficult to maintain the contract after winning.
3-Line Summary
1. Subscription applications are being accepted for 6 households at Cheolsan Xi
2. The Heritage is priced in the 7억~8억원 range
3. Check the final payment terms before the potential gain
4 Households at The Heritage, for Homeless Residents of Gyeonggi Province
The Korea Real Estate Board’s Cheongyak Home is accepting unranked applications on September 22 for 4 remaining households at ‘Cheolsan Xi The Heritage’ whose contracts were not signed. The complex, rebuilt from Cheolsan Jugong Complexes 8·9, has 3,804 households, and the units available are 3 households of exclusive-use area 59㎡A and 1 household of 59㎡C.
The sale price is 7억1,700만원~8억800만원 for 59㎡A and 7억5,700만원 for 59㎡C. MoneyToday reported that the same type of unit traded at a high of 14억2,500만원 last month. This price gap is not profit that guarantees the resale price after winning; it is simply a comparison of past sale prices and transaction examples.
Applicants must be homeless household members residing in Gyeonggi Province. A subscription account is not required, and applicants will be selected by lottery. There is no resale restriction, but because the complex is subject to the price ceiling system, residents must fulfill an occupancy obligation through May 30, 2027.
The 2 Households at Brière Have Different Gwangmyeong Residency Requirements
Nearby ‘Cheolsan Xi Brière’ is offering 1 household of exclusive-use area 59㎡A through a first-time-buyer special supply on September 22, and 1 household of 59㎡B through general supply on the 23rd. The sale prices are 8억170만원 and 8억6,670만원, respectively.
Only homeless household members residing in Gwangmyeong-si may apply for this complex. Reported transaction prices for units of the same type were around 12억7,500만원, and articles mentioned a price gap of approximately 4억원 or more. There is no occupancy obligation, and the plan is for the resale restriction to be lifted in November, but a 10-year restriction on winning again applies.
Both supplies use a lottery system, allowing applicants with low subscription scores to participate. However, the eligible areas and supply types differ, so the two complexes should not be viewed as units offered under the same conditions.
You Must Prepare 90% of the Sale Price by November
The most important condition to examine in this subscription is the final payment. According to reports by Newsis and The Fact, winners may lose their status if they cannot prepare the final payment equivalent to 90% of the sale price by November at either complex.
It may not be easy to obtain a conventional mortgage for a newly built apartment whose move-in has been completed but which has not yet been registered. Reports also explain that applicants may need to find a financial institution offering a post-collateral mortgage. MoneyToday reported that late fees will be charged if the final payment is not made by the deadline, and that losing the deposit may also be possible if the contract is terminated.
Therefore, before asking whether this subscription is possible ‘without a subscription account,’ applicants should first determine whether they can pay the final amount using their available cash and the actual loan amount they can obtain. The larger the price gap, the more specifically the financing conditions need to be confirmed.
References
Tags #CheongyakHome #UnrankedSubscription #CheolsanXiTheHeritage #CheolsanXiBrière #GwangmyeongApartments #GwangmyeongSubscription #Jjupjjup #ApartmentSubscription #HomelessApplicants #SubscriptionEligibility #SubscriptionAccount #FinalPaymentLoan #ResaleRestriction #OccupancyObligation