Ministry of Land, Recruitment of 4,241 Rental Housing Units for Youth and Newlywed Couples

[Asia Economy Reporter Yoo In-ho] The Ministry of Land, Infrastructure and Transport announced on the 29th that starting from November 9, it will recruit tenants for 4,241 purchase rental housing units nationwide in 14 cities and provinces for youth and newlyweds.

The recruitment target includes 723 units for youth and 3,518 units for newlyweds. By region, 580 units in Seoul and a total of 2,329 units in the metropolitan area will be supplied, while 1,912 units will be provided in other provinces.

If you apply for move-in during November, move-in will begin within the year. Youth purchase rental housing rents are set at about 40-50% of market prices, and considering the frequent moves typical of youth, full options such as air conditioners and refrigerators are provided.

Newlywed purchase rental housing is divided into Type I (1,873 units), where residents can live in multi-family houses at about 30-40% of market rent, and Type II (1,645 units), where residents can live in apartments or officetels at about 60-70% of market rent.

Among the newlywed types, 1,495 units of housing that have been vacant for more than six months have relaxed eligibility requirements so that even married couples with minor children can apply, even if their marriage period exceeds seven years.