Recruitment of Tenants for 6,850 Rental Housing Units for Youth and Newlywed Couples

Recruitment for Youth Category Starts from the 24th, Newlywed Couple Category from the 17th

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 16th that it will recruit tenants for 6,850 purchased rental housing units targeting youth and newlyweds.

Purchased rental housing refers to public housing where LH buys multi-family and multi-unit houses and rents them out to youth and newlyweds at prices lower than market rates.

This time, a total of 1,163 youth purchased rental housing units will be supplied. These are offered to non-homeowners aged 19 to 39. From this year, eligibility criteria have been revised to determine tenant priority based solely on income details and owned assets.

The rental deposit is set at a minimum of 1 million KRW to reduce the financial burden on young people. Considering the housing characteristics of youth, essential household appliances such as refrigerators, air conditioners, and washing machines are provided.

Purchased rental housing for newlyweds is divided into Type I (2,764 units), which supplies multi-unit houses, and Type II (2,923 units), which supplies apartments and officetels. The supply has been expanded to include not only the existing target groups of newlyweds and single-parent families but also married couples with children under six years old.

Type I has relatively lower rent compared to Type II. Since Type II applies relaxed income criteria compared to Type I, applicants can choose the type that suits their situation when applying.

The recruitment for the youth type starts on the 24th, and for the newlywed type on the 17th. For detailed information such as housing location and specific rental conditions, please refer to the tenant recruitment announcement posted on the LH subscription center or contact the LH call center.

An LH official explained, "As this is the first tenant recruitment announcement of the year with relaxed eligibility requirements, it is expected that more youth and newlyweds will apply," adding, "We will continue to expand the supply of purchased rental housing to help alleviate housing instability for youth and newlyweds."