The Seoul Metropolitan Government is recruiting tenants for the 'Public Rental Sector of Transit Station Area Youth Housing.' Online applications will be conducted next month, and after reviewing eligibility and other criteria, the final selected tenants will move in after September.
On the 31st, Seoul announced the recruitment of tenants for the first 'Public Rental Sector of Transit Station Area Youth Housing' this year and stated that online applications will be accepted for three days from the 12th to the 14th of next month. This recruitment will select a total of 576 tenants across five complexes in Seoul, including Seongnae-dong in Gangdong-gu.
Transit Station Area Youth Housing is rental housing supplied through cooperation between the private sector and public sector, focusing on locations convenient for public transportation use, to stabilize housing for young people and newlyweds without homes.
In particular, this tenant recruitment includes not only donation-based contributions but also a new 'SH Pre-purchase Type,' where Seoul Housing and Communities Corporation (SH Corporation) pre-purchases housing after completion through appraisal, enabling the supply of more rental housing.
Eligibility for application includes young people or newlyweds aged 19 to 39 who do not own a home or a car, with a combined monthly average income of 100% or less of the urban worker household income standard based on the number of household members, including the applicant and their parents. For more detailed eligibility criteria, please refer to the recruitment announcement.
The 'Public Rental' Transit Station Area Youth Housing is popular because it offers housing at 30-50% of the surrounding market price, allowing residents to live at a lower cost compared to nearby housing located in transit station areas. Until last year, the city recruited tenants twice a year, but from this year, it plans to increase to three times, with the 2nd and 3rd recruitment announcements scheduled for the second half of the year.
This recruitment will supply a total of 576 units across five complexes, including 264 units at the Transit Station Area Youth Housing in the area of 87-1 Seongnae-dong, Gangdong-gu, and the final selected tenants will move in after September following eligibility verification.
Han Byung-yong, Director of the Seoul Housing Policy Office, said, "We will continue to expand the supply of Transit Station Area Youth Housing so that it can serve as a 'housing ladder' for young people and newlyweds who lack assets."
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