SH Corporation to Supply 320 Seoul REITs Happy Housing Units at 60-80% of Nearby Market Prices

Recruitment Announcement on the 27th... Subscription Applications from the 7th to 9th Next Month

[Asia Economy Reporter Kim Hyemin] A total of 320 units of Seoul REITs Happy Housing will be supplied to university students, youth, newlyweds, and the elderly at 60-80% of the surrounding market price.

Seoul Housing and Communities Corporation (SH Corporation) announced on the 26th that it will recruit tenants next month for 320 units of Happy Housing owned by Seoul REITs in 17 autonomous districts of Seoul.

Among the Happy Housing units supplied this time, the largest allocation of 172 units is for youth. There are 81 units for newlyweds, 66 units for the elderly, and 1 unit for university students. The total supply is 320 units, consisting of 243 units for re-supply and 77 units for waiting tenants.

By supply area, Eunpyeong-gu, which includes the Irumchae complex, has the largest number with 101 units, followed by Jongno-gu (45 units), Seodaemun-gu (33 units), Seongbuk-gu (31 units), and Yongsan-gu (27 units).

The rental deposit and rent for this Happy Housing are set at 60-80% of the market price in nearby areas. Even for the same area, the amount varies depending on the supply target. The average deposit and rent by area are set as follows: for exclusive use under 29㎡, a deposit of 67 million KRW and rent of 230,000 KRW; for exclusive use under 39㎡, a deposit of 126 million KRW and rent of 440,000 KRW; and for exclusive use under 49㎡, a deposit of 150 million KRW and rent of 530,000 KRW.

The tenant recruitment announcement will be posted on the SH Corporation website at 4 p.m. on the 27th, and subscription applications will be accepted from the 7th to the 9th of next month.