청약 Complete Guide: Points, Eligibility, and Strategy

The Korean housing subscription system (청약 제도) is one of the most distinctive features of the country's property market. Rather than simply purchasing newly constructed apartments on the open market, Koreans apply through a government-managed lottery and points-based priority system to buy units before construction is complete. Winning a 청약 (cheongnyak) subscription for a new development — particularly in high-demand areas of Seoul — can mean buying at below-market prices, making the system intensely competitive and carefully engineered.

What 청약 Is and Why It Exists

When a housing developer builds a new apartment complex, they are legally required to distribute a portion of units — sometimes all of them — through the official subscription system managed by the Korea Real Estate Agency (한국부동산원) and the Ministry of Land, Infrastructure and Transport (국토교통부). This prevents large-scale buyers from acquiring entire developments and ensures that ordinary households have fair access to new housing.

The trade-off is complexity. To participate, you must maintain a dedicated savings account for years, understand multiple priority tiers, and navigate a points system that rewards long-term savers with dependents.

The Housing Subscription Savings Account (청약통장)

You must hold an active 주택청약종합저축 (comprehensive housing subscription savings account) at a participating bank to apply for any public or private subscription. Key features:

• Minimum monthly deposit: 10,000 KRW (points accrue at the same rate regardless of deposit amount above 20,000 KRW)
• Recommended monthly deposit: 20,000 KRW (minimum for full monthly point accrual)
• Maximum deposit credited for capacity calculation: 1,500,000 KRW/month (for public rental priority)
• Account must have been held for a minimum period (6 months for some categories, 2+ years for high-priority status)
• Annual tax deduction: Account holders who are household heads with income under 70 million KRW can deduct 40% of annual deposits (up to 9.6 million KRW) from taxable income, for a maximum deduction of 3,840,000 KRW per year

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Two Types of New Apartments

공공분양 (Public allocation): Units built or subsidized by the government (LH, SH Corporation), priced below market, with strict income and asset limits. Priority strongly favors lower-income households and those without prior homeownership.

민간분양 (Private allocation): Units built by private developers, priced at market rates, but still sold through the subscription system. The points-based competition (가점제) applies to a portion of units, with the remainder assigned by lottery (추첨제) regardless of points.

Priority Tiers

Most subscription rounds are divided into two priority tiers:

1순위 (First Priority): Requires meeting all of: - Account held for the required period (typically 2 years in regulated areas, 1 year in non-regulated) - Number of monthly deposits meeting the required minimum count - Income, asset, and homeownership conditions (for public housing)

2순위 (Second Priority): Everyone with a valid account who does not qualify for first priority. Competition at this level is typically too fierce in Seoul to win desirable developments.

Within 1순위, private developments apply either the points system (가점제) or a lottery (추첨제). Developments in regulated areas apply the points system to 75–100% of general-supply units; other areas use more lottery allocation.

Supply Categories You Can Apply For

Category	Korean Term	Eligible Group
General supply	일반공급	All account holders meeting tier requirements
Newlywed special	신혼부부 특별공급	Married under 7 years, income limits
First-time buyer special	생애최초 특별공급	Never owned a home, income limits
Multi-child household	다자녀가구 특별공급	3+ children
Senior household	노부모 부양 특별공급	Supporting elderly parents
Institutional	기관추천 특별공급	National merit, disabled, etc.

Applying under a special category uses different eligibility criteria and a separate quota, so many households apply simultaneously under multiple categories where they qualify.

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The Subscription Calendar

New development subscription rounds are announced through the APT2You platform (www.apt2you.com), managed by the Korea Real Estate Agency. The typical schedule:

1. 청약 공고 — Announcement published (usually 2–4 weeks before application)
2. 입주자모집공고 확인 — Verify eligibility requirements and unit details
3. 청약 접수 — Application window (typically 3–5 days)
4. 당첨자 발표 — Winner announcement (1–2 weeks after application)
5. 서류 제출 및 당첨 확인 — Document submission within the deadline
6. 계약 — Contract signing, initial down payment

Missing any step automatically disqualifies the application with no appeal, and making a false declaration during the subscription process can result in a subscription restriction (청약 제한) for several years.