[Asia Economy Reporter Onyu Lim] Seoul Housing and Communities Corporation (SH Corporation) will supply 457 units of Seoul REITs Happy Housing. Happy Housing is rental housing offered to university students, youth, newlyweds, and the elderly at 60-80% of the surrounding market price.
On the 29th, SH Corporation announced that it will recruit tenants for 457 units of Happy Housing owned by Seoul REITs in 16 areas including Eunpyeong-gu, Seodaemun-gu, and Dongdaemun-gu.
The number of units supplied by target group consists of 209 units for youth, 151 units for newlyweds, 92 units for the elderly, and 5 units for university students. Of these, 200 units are newly supplied, and 257 units are resupplied.
By supply area, Eunpyeong-gu, which includes the Hillstate Nokbeon Station complex, has the largest number with 141 units, followed by Seodaemun-gu with 62 units, Dongdaemun-gu with 52 units, Seongbuk-gu with 40 units, and Mapo-gu with 36 units.
The supply price, including both rental deposit and rent, is set at 60-80% of the market price in nearby areas, with different amounts applied depending on the target group even for the same area. The rental conditions are set with a standard rental deposit ranging from 36 million KRW to 229 million KRW, and monthly rent ranging from 129,000 KRW to 802,000 KRW.
Applications for subscription can be submitted online or via mobile on the SH Corporation website from May 14 to 18 (excluding holidays). However, for elderly or disabled persons who have difficulty applying online or via mobile, in-person applications will be accepted on the 18th only at the SH Corporation headquarters auditorium on the 2nd floor in Gangnam-gu, Seoul (located near Daechi Station on Line 3).
Eligibility requirements, site layouts, floor plans, and other detailed information will be posted on the SH Corporation website, and detailed consultations can be obtained through the SH Call Center.
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