- Rent frozen for 4 years after contract and up to 9 months rent support... Offering unprecedented rental benefits
- Publicly supported private rental housing available for immediate move-in regardless of home ownership
Recently, as the risks of deposit fraud and "empty-can jeonse" guarantee accidents have increased, there is growing interest in publicly supported private rental apartments that offer stable living conditions.
According to data from the Housing and Urban Guarantee Corporation (HUG), the amount of guarantee accidents involving "intensively managed multi-home debtors" reached 438.2 billion KRW last year, an increase of 82.7 billion KRW (23%) compared to the previous year. The guarantee accident amount caused by malicious landlords was 3 billion KRW in 2018, but surged to 50.4 billion KRW in 2019, 187.1 billion KRW in 2020, and 355.5 billion KRW in 2021, increasing 146 times over four years. As the number of tenants who fail to receive their jeonse deposits on time rises, awareness of the safety of jeonse deposits is growing. The industry expects that due to higher loan interest rates and concerns about jeonse fraud, many tenants hesitant to sign jeonse contracts will shift toward semi-jeonse or monthly rent agreements.
An industry insider said, “Although the government’s real estate policy has introduced mandatory subscription to rental deposit guarantee insurance, there are still blind spots in deposit guarantees, so it is important to find safer housing.” He added, “Instead of taking out loans to buy a house or rent jeonse recklessly, it is a good idea to consider publicly supported private rental housing where you can live stably at a reasonable cost.”
Meanwhile, publicly supported private rental housing available for immediate move-in in the Songnim-dong area of Dong-gu, Incheon Metropolitan City, is receiving renewed attention. The publicly supported private rental apartment “Dongincheon Station Park Prugio,” constructed by Daewoo E&C, recently changed its rental conditions drastically and is recruiting additional tenants.
Dongincheon Station Park Prugio offers benefits to stabilize tenants’ housing by freezing rent for four years after the contract and providing rent support for up to nine months. It supports rent for six months for tenants moving in for the first time after signing the lease, and if the contract is renewed after two years, an additional three months of rent support is provided, totaling up to nine months of rent assistance.
Dongincheon Station Park Prugio is a large complex apartment consisting of 12 buildings from four basement floors to 48 above-ground floors, with a total of 2,562 households. Among them, 2,005 households with exclusive areas ranging from 21㎡ to 84㎡ were built as publicly supported private rental housing.
It is a station-area complex located about a five-minute walk from Dongincheon Station on Subway Line 1 (express/rapid trains). Using the express train, it takes about 40 minutes to reach Yongsan Station in Seoul, and it is possible to travel directly without transfers to Guro, Jongno, Seoul Station, and other locations. Accessibility to the metropolitan transportation network is excellent, with easy access to Incheon-daero, Gyeongin Expressway, and the Second Ring Expressway of the Seoul Metropolitan Area, making travel convenient not only within Incheon but also to Seoul and the metropolitan area by car.
Nearby Bupyeong Station is scheduled to be a stop on the Seoul Metropolitan Area Express Train (GTX) Line B. When GTX Line B opens as planned in 2030, travel time from Incheon to Seoul, which currently takes over an hour, will be reduced to about 20 minutes. The Bupyeong Coastal Pier Line (tram), connecting Bupyeong Station to Yeonan Port over 19 km, is also undergoing a preliminary feasibility study within this year.
Dongincheon Station Park Prugio also boasts excellent educational environments. Songnim Elementary School and its affiliated kindergarten are located right in front, and various middle and high schools such as Dongsan Middle School, Dongsan High School, and Anil Girls’ High School are within a 1 km radius. Residents can walk to Songhyeon Neighborhood Park, Hwadogjin Park, Jayu Park, and the planned Baedari Park, and Subeongsan Mountain is nearby, allowing for a pleasant living environment. Above all, some units offer expansive sea views.
Living infrastructure includes traditional markets such as Songhyeon Market, Jungang Market, and Hyundai Market nearby, and large supermarkets like Homeplus, E-Mart, and E-Mart Traders are accessible within 10 minutes by car. Medical facilities such as Dongincheon Gil Hospital, Inha University Hospital, and Incheon Paik Hospital are also adjacent.
A representative of Dongincheon Station Park Prugio stated, “In difficult economic times, we changed the rental conditions to alleviate tenants’ housing insecurity.” He added, “Tenants can live without worrying about rent increases for four years and receive up to nine months of free rent benefits during that period.” Furthermore, he noted, “If you are a non-homeowner and meet the conditions for the Buttress Jeonse Loan, you can receive a favorable interest rate at the 2% level.”
Meanwhile, Dongincheon Station Park Prugio is currently open for move-in, and tenants can move in quickly immediately after signing the contract.
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