With the launch of special loans for newborns, consumers who have reduced the burden of raising a lump sum are considering purchasing their own home. The newborn special loan is a financial product that allows you to raise funds at a low interest rate when purchasing an apartment supplied through residential development or urban development with a sale price of 900 million won or less. Accordingly, interest in new sales complexes in the Gyeonggi and Incheon areas that can meet the standards for special loans for newborns is increasing.
According to the Ministry of Land, Infrastructure and Transport on the 24th, 13,458 loan applications were received from January 29, when the newborn special loan began, to February 16. The loan amount was calculated to be 3.3928 trillion won. More than 10% of the government budget (32 trillion won) allocated to special loans for newborns this year was used up in less than a month.
The Newborn Special Loan is a government-supported project that provides loans of up to 500 million won for homes worth 900 million won or less to household heads who meet the requirements among households that gave birth or adopted a child after January 1 of last year. The interest rate ranges from 1.6 to 3.3% per year depending on income, loan period, and whether preferential interest rates are applied.
Loans are eligible for housing with a value of 900 million won or less, an exclusive area of 85 m2 or less, and a number of households of 300 or more. For apartments sold through redevelopment or reconstruction, lending is restricted for risk management. There are standards such as a couple’s combined annual income of less than 130 million won and net asset holdings of less than a certain amount.
‘Wanggil Station Royal Park City Prugio’, Wanggil-dong, Seo-gu, Incheon. [사진 = DK아시아]
In the case of apartments supplied in new cities or urban development zones in the metropolitan area, there is no problem in receiving special loans for newborns. This is because, unlike maintenance projects, there are no concerns about various delays in registration, such as disputes over construction costs, lawsuits between business operators, or refusal to consent to management dispositions by residents. The sale price is cheaper compared to the Seoul area, so it is easy to meet the standards.
Apartments in the metropolitan area that can benefit from special loans for newborns are as follows. First, Daewoo Engineering & Construction is selling ‘Wanggil Station Royal Park City’. This complex will be built as a large complex with 1,500 households in Wanggil-dong, Seo-gu, Incheon. It is possible to receive special loan benefits for newborns in most types. The expected move-in date is September.
GS E&C supplies ‘Yeongtong Station Xi Prasiel’. This complex will be built with 472 households in Seocheon-dong, Yongin-si, Gyeonggi-do. Among these, 452 households with an exclusive area of 84㎡ are eligible for the special loan for newborns. Hyundai Engineering & Construction presents ‘Hillstate the Unjeong’. This complex will be built with 744 households in Wadong-dong, Paju-si, Gyeonggi-do. Among these, 738 households with an exclusive area of 84㎡, excluding the penthouse (6 households), can receive special loans for newborns.
Jungheung Construction is conducting sales of ‘Pyeongtaek Brain City Jungheung S-Class’ on a first-come, first-served basis. This complex is located in Jangan-dong, Pyeongtaek-si, Gyeonggi-do, and has two exclusive areas of 59㎡ and 84㎡, so special loans for newborns are available for all created households (1,980 households). The advantage of this complex is that it is not far from Jije Station, where the Seoul Metropolitan Rapid Transit (GTX)-A·C lines pass, and is close to the Samsung Electronics semiconductor factory.
Kwon Il, head of the Real Estate Info Research Team, said, “As a result of looking at the transaction volume of apartments by age group across the country last year, the proportion of people in their 30s (26.6%) exceeded those in their 40s (25.8%) for the first time.” “Because it is a loan, the use rate among the younger generation will increase,” he said.
2024-02-24 12:06:12
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