Korea Land & Housing Corporation (LH) said on the 20th that it will hold a region-by-region briefing session on purchasing unsold apartments after completion in provincial areas.
The briefing sessions were arranged to provide detailed guidance on key details and procedures related to the third notice, issued on the 10th, for purchasing unsold apartments in provincial areas after completion, and will be held across six regions.
The sessions will start on the 21st this month in the Daegu-North Gyeongsang region (LH Daegu-North Gyeongsang Regional Headquarters), followed in the same month by ▲ North Jeolla region (on the 22nd at LH North Jeolla Regional Headquarters) ▲ Gwangju-South Jeolla region (on the 23rd at LH Gwangju-South Jeolla Regional Headquarters) ▲ Chungcheong region (on the 28th at LH Daejeon-South Chungcheong Regional Headquarters) ▲ Gangwon, Jeju and other regions (on the 30th at LH South Gyeonggi Regional Headquarters). The Busan-Ulsan-South Gyeongsang region will be held on the 14th next month at LH Busan-Ulsan Regional Headquarters. Attendance is available without prior registration.
LH is pushing to purchase 5,000 unsold apartments this year to support housing for provincial workers and to help revive the regional construction economy.
Eligible properties are unsold apartments that have been completed, or are scheduled to be completed by the end of July (scheduled to be completed within three months), in all regions except the Seoul metropolitan area. LH will selectively purchase quality dwellings after a comprehensive evaluation of the potential for rental and rent-to-own conversion, housing quality, complex size, subscription rate, and duration of being unsold.
Purchase prices will be set within the LH-calculated price range based on the appraised value (90% of the appraised value ± an adjustment rate), and purchases will proceed sequentially starting with dwellings whose desired sale price ratio is lower.
Sale applications can be submitted for six weeks from the 27th this month to June 5 through the LH Subscription Plus website.
Acting LH President Jo Kyung-suk said, "We will expedite the related procedures to help resolve unsold units in provincial areas and support a recovery in the construction economy," adding, "The dwellings we purchase will be used for middle-class rentals and housing support for provincial workers, contributing to housing stability for real demanders without homes."