Ministry of Land, Infrastructure and Transport to Supply 26,454 Public Rental Housing Units Nationwide by Year-End

Public rental housing under purchase agreement in Jangan-gu, Suwon-si, Gyeonggi, disclosed by LH. (Photo by Asia Economy DB)

[Asia Economy Reporter Ryu Tae-min] The Ministry of Land, Infrastructure and Transport announced on the 9th that it will recruit tenants for a total of 26,454 units across 101 public rental housing complexes nationwide by the end of this year. Among these, 16,977 units (48 complexes) will be supplied in the Seoul metropolitan area, including Seoul, Gyeonggi, and Incheon.

In the metropolitan area, 16,977 units will be supplied across 48 complexes. Major complexes include Gangdong Cheonho 1 Happy Housing in Seoul (94 units), Dongtan 2 New Town Happy Housing in Gyeonggi (1,500 units), and Yangju Okjeong Happy Housing (1,215 units). The S8 block of Gwacheon Knowledge Information Town in Gyeonggi, offering 114 units, will be developed as specialized Happy Housing for newlyweds.

Outside the metropolitan area, tenants will be recruited for 9,477 units across 53 complexes, including Namwonju Station Area Happy Housing in Gangwon (435 units), Tangjeong Happy Housing in Asan, Chungnam (1,054 units), and Seonun 2 National Rental Housing in Gwangju (447 units). Jinju Gajwa Happy Housing (150 units), built on the Gyeongsang National University campus in Jinju, Gyeongnam, will be supplied entirely to university students.

Public rental housing is categorized into permanent rental housing, which is supplied at less than 30% of market prices to recipients such as welfare beneficiaries; national rental housing, supplied to various social groups; and Happy Housing, mainly supplied to young people such as youth and newlyweds. These provide affordable and stable housing compared to market prices.

With recent increases in jeonse prices and burdens on housing for low-income households due to high inflation and high interest rates, demands for secure living spaces have expanded. The Ministry of Land, Infrastructure and Transport stated that through this recruitment announcement schedule, those wishing to move into public rental housing will be able to plan their housing in advance.

Lee So-young, Director of the Public Housing Policy Division at the Ministry of Land, Infrastructure and Transport, said, “We plan to continuously supply public rental housing where low-income households without homes can live with peace of mind in needed areas, and we will make further efforts to provide housing of various sizes in good locations.”