LH, Anyang Public Jeonse Housing Closes with a Competition Rate of 27:1

117 Households Recruitment with 3,141 Applicants... Features High Quality and Affordable Rental Conditions

Interior view of a public rental housing unit. / Provided by LH.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 22nd that the application period for tenants of the ‘Public Jeonse Housing’ located in Anyang City, which was announced on the 8th, has ended with high interest, recording an average competition rate of 27:1 with 3,141 applicants for a total of 117 households.

‘Public Jeonse Housing’ refers to housing purchased by public project operators in newly built, spacious, and pleasant residences within urban areas and supplied to middle-class households. It is characterized by high-quality materials, convenient facilities, and a rental deposit lower than market prices.

The Anyang Public Jeonse (2 buildings, 117 units) supplied for the first time this time recorded a final competition rate of 27:1 with 1,363 applicants in the first priority and 1,778 applicants in the second priority, concluding successfully.

By type, 1,612 applicants applied for 52 units of ‘Mirae Town,’ showing a competition rate of 31:1, and 1,529 applicants applied for 62 units of ‘Hyunurim,’ showing a competition rate of 24:1.

This figure includes internet applications and initial mail-in applications, and the competition rate is expected to increase further considering the remaining mail-in applications yet to arrive.

An LH official said, "Many people applied because it is possible to move in with a deposit lower than the market price without monthly rent, and the quality is secured at an apartment level with medium or larger area," adding, "It is expected to greatly help alleviate the jeonse housing shortage as 18,000 units of similar types of public jeonse housing are scheduled to be supplied by the end of next year."