The ratio of priority supply for newborns in special supply for newlywed couples in private supply apartments will be expanded from 20% to 35%.
According to the Ministry of Land, Infrastructure and Transport on the 29th, the ministry is preparing a partial amendment to the 'Regulations on Housing Supply,' which will be legislated and publicly announced for comments by Feb. 4 next year.
Accordingly, the priority supply ratio for households with newborns (children under 2 years old) among newlywed couples whose monthly average income is at or below 100% of the previous year's monthly average income of urban worker households will increase from 15% to 25%. The size of the special supply dwellings that newlywed couples can apply for is limited to a gross floor area of 85㎡ or less.
Households with a newborn earning at or below 120% of the previous year's monthly average income of urban workers will receive priority supply benefits increased by 5 percentage points to 10%.
The ministry will lower the priority supply ratio for newlywed couples meeting only the income criteria without a newborn from the total of 50% to 35%. The priority supply ratio for newlywed couples earning at or below 100% of the monthly average income of urban workers will decrease from the previous 35% to 25%. Newlywed couples earning at the 120% monthly average income threshold will receive a priority supply of 10%, which is a 5 percentage point reduction from the previous ratio.
As a result, the ratio of newlywed couples eligible for special supply based on whether they have a newborn and the income criteria will be maintained at a total of 70%, the same as before. Additionally, 30% will still be able to receive special supply for newlywed couples through a lottery, within the scope of meeting asset criteria.
The recent amendment to the regulations is a follow-up action to the 'Measures to Reverse Low Birth Rates,' announced jointly by the government in June, aimed at strengthening housing support for households with newborns among newlywed couples, according to the ministry.
At that time, the government decided to increase the proportion of special supply for newlywed couples in private sales from 18% to 23%. Assuming an annual average of 200,000 units for private housing supply, about 46,000 households (23%) will benefit.
If the regulations are amended, about 16,100 units (35%) of these are expected to be prioritized for households with newborns among newlywed couples.
In March, the government established a 'Special Supply for Newborns' category in the application criteria for public sale dwellings and decided to allocate up to 35% of the 'New Home' units in public sale dwellings for this special supply.