SH Corporation Announces Tenant Recruitment for 1,703 Redevelopment Rental Housing Units

Seoul Housing and Communities Corporation (SH Corporation) building / Photo by Seoul Housing and Communities Corporation

[Asia Economy Reporter Hwang Seoyul] Seoul Housing and Communities Corporation (hereinafter SH Corporation) will supply 1,703 redevelopment rental housing units.

On the 18th, SH Corporation announced that it will recruit tenants for 1,703 redevelopment rental housing units across 192 complexes, including Guro Doosan. The tenant recruitment announcement will be posted on the SH Corporation website at 2 PM on the following day, the 19th.

This supply targets 108 remaining vacant units in existing complexes due to tenant move-outs or contract cancellations, as well as 1,595 units for prospective tenants. The supplied housing units have exclusive areas ranging from 24 to 59㎡, with deposit prices approximately between 5 million and 56 million KRW, and monthly rents expected to be around 60,000 to 320,000 KRW.

Eligibility for general supply requires applicants to be members of a household without housing residing in Seoul as of the recruitment announcement date, the 19th. The household’s monthly average income must be 70% or less of the urban worker’s average monthly income, total household assets must be 325 million KRW or less, and the value of household-owned vehicles must be 35.57 million KRW or less.

Applications for priority applicants will be accepted from the 29th until the 2nd of next month, followed by secondary applications six days later. If the number of priority applicants exceeds 200% of the supply units, secondary applications will not be accepted.

To prevent the spread of COVID-19, applications will be accepted only via internet and mobile platforms. However, for applicants who have difficulty using the internet, such as the elderly and disabled, in-person application submissions will also be available.

Document screening candidates will be announced on the 20th of next month, and successful applicants will be announced on February 10, 2023. Move-in will be possible starting March next year. For more details, please check the SH Corporation call center and website.