Gyeonggi Province's Gwacheon Knowledge Information Town Lottery No-Application Schedule Delayed
The no-application (commonly referred to as 'pick-up') schedule for the apartments in Gwacheon Knowledge Information Town in Gwacheon, Gyeonggi Province has been postponed.
The Korea Land and Housing Corporation (LH) announced that it adjusted the schedule to organize the recruitment announcement in more detail, as inquiries regarding the application continued to persist.
According to LH, the no-application lottery for one unit of the 55㎡ exclusive Honeymoon Hope Town in Block S7 of Gwacheon Knowledge Information Town (Gwacheon Grand Lev Desian), originally scheduled for the 9th, has been postponed to the 16th. Consequently, the announcement of the winning applicants has also been delayed to the 20th.
High Expectations for Significant Market Value Profit Known as 'Lottery Application'
This designated no-application lottery is attracting attention as a so-called 'lottery application' due to the substantial market value profit anticipated. The sale price is set at 500 million won, and when compared to the surrounding market prices, a profit of about 1 billion won can be expected, drawing the interest of many applicants.
The eligibility to apply is limited to members of non-homeowner households residing nationwide as of the recruitment announcement date (May 29), and they must meet one of the following three conditions:
– Newlywed couples married for 7 years or less or with children under 6 years old
– Couples who can prove their marriage within a year
– Single-parent families with children under 6 years old
Successful applicants will be subject to a resale restriction and a mandatory residency obligation. The resale restriction period is 3 years from the announcement date of the winners, while the mandatory residency obligation lasts 5 years from the initial move-in date.
Applications can be submitted through the 'LH Application Plus' website.
Image source: Bird's-eye view of Gwacheon Knowledge Information Town / LH application website, reference photo for understanding the article / gettyimagesbank
