GH Extends Gwanggyo Shared-Equity Model Home Hours Until 8 p.m.

Gyeonggi Housing & Urban Development Corporation (GH) will extend the operating hours of its model home for shared-equity housing in Gwanggyo New Town until 8 p.m. for three days, from November 6 to 8.

The shared-equity housing project, "Gwanggyo Jayeon & Centerville," opened its model home on October 30, when the resident recruitment announcement was published. GH decided to substantially extend the model home's operating hours to help prospective buyers understand this new housing type, being introduced for the first time in South Korea, and to respond thoroughly to the many inquiries about how shares are acquired, the initial payment burden and subscription eligibility.

In shared-equity housing, residents first acquire a portion of the home’s ownership share, then gradually acquire the remaining shares over 20 years while living there.

An artist's rendering of Gyeonggi Housing & Urban Development Corporation's equity-based multifamily housing in Gwanggyo.

At the model home, GH will provide detailed guidance through in-person consultations on the structure for acquiring ownership shares and the rental fee system for the remaining public-sector shares. The corporation plans to help prospective buyers understand the system’s essential features and supply conditions before applying, and to clearly explain eligibility criteria and points to note for each housing type to prevent confusion during the application process.

The extended model-home hours are intended to provide more time for visits and consultations; the application schedule remains unchanged. Applications for special supply will be accepted on November 9, and those for general supply from November 10 to 11. Further details on supply conditions and subscription eligibility are available in the official resident recruitment announcement.

GH President Kim Yongjin said, "As this is the first shared-equity housing project introduced in South Korea, it is especially important to help residents fully understand the system’s practical benefits and the structure of its financial burden." He added, "We will take care to ensure that more residents, including office workers who have difficulty visiting on weekdays or during the day, can visit at a convenient time and receive thorough consultations."

This content was produced with the assistance of AI translation services.