Recruitment of 3,493 Rental Housing Units for Youth and Newlywed Couples... Move-in by March Next Year

1870 Youth Households, 1623 Newlywed Couples
Rent at 40~50% of Market Price

The Ministry of Land, Infrastructure and Transport announced on the 20th that from the 21st, it will recruit the 4th round of tenants for purchase rental housing for youth and newlyweds in 14 cities and provinces nationwide.

The recruitment scale is a total of 3,493 households, including 1,870 youth households and 1,623 newlywed households. After qualification verification for applicants, move-in can begin as early as early March next year.

A view of a purchase-rental housing located in Dongdaemun-gu, Seoul. [Photo by LH]

Youth purchase rental housing allows residence for up to 10 years at a low rent level of 40-50% of the market price.

Newlywed purchase rental housing is supplied in two types: Newlywed Type I (943 households), which allows residence in multi-family houses, etc., at 30-40% of the market price, and Newlywed Type II (680 households), which allows residence in apartments, officetels, etc., at 60-80% of the market price.

Newlywed purchase rental housing is available to newlywed couples within 7 years of marriage, prospective newlyweds, and households raising children under the age of 6. Additionally, general married households meeting the qualification requirements can apply for some types (Newlywed Type II).

Kim Dogon, Director of the Housing Welfare Support Division at the Ministry of Land, Infrastructure and Transport, said, "We hope that youth preparing for the new academic year and newlyweds starting a new chapter will take an interest and apply. We will continue to pay close attention to national housing stability and improving tenant satisfaction, and actively strive to supply customized purchase rental housing."