Gimhae City to Recruit 280 Households for LH Purchased Rental Housing Tenants

From January 27 to February 3, Administrative Welfare Center

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gimhae City, Gyeongnam Province, is accepting applications for prospective tenants of LH purchased rental housing.

Purchased rental housing is a project where the Korea Land and Housing Corporation (LH) buys existing multi-family houses and other dwellings in urban areas to provide affordable rental conditions at about 30% of the market price, enabling low-income groups to live stably within their current living areas.

Gimhae City Hall, Gyeongnam.
Photo by Gimhae City Hall

The city announced on the 25th that it will recruit a total of 280 households from the 27th of this month to February 3rd.

There are 70 units for 2-person households, 180 units for 3-4 person households, and 30 units for households with 5 or more members, with a rental period of 2 years.

The city official explained that if the tenant maintains eligibility, they can renew the contract up to 9 times, for a maximum of 20 years.

According to the city, applicants must be members of a household without a home registered in Gimhae City as of the announcement date, the 13th of this month, and meet the qualifications of priority 1 or 2 in the announcement, such as ▲ livelihood or medical benefit recipients ▲ single-parent families under protection ▲ households urgently needing housing support ▲ low-income elderly ▲ persons with disabilities with a household monthly average income below 70%.

Applications must be submitted at the administrative welfare center of the resident-registered area’s eup, myeon, or dong, and detailed information can be found in the LH subscription center announcement.