Rental Deposit 39.1 Million to 162 Million KRW
Monthly Rent 160,000 to 662,000 KRW Range
Seoul Housing and Communities Corporation (SH Corporation) announced on the 25th that it is recruiting tenants for 304 units of 'Seoul REITs Happy Housing.'
Happy Housing is provided at prices lower than the surrounding market rates for youth, newlyweds, and the elderly. Youth can reside for 6 years, newlyweds with children for 10 years, and the elderly for up to 20 years.
This supply targets 119 Happy Housing units owned by Seoul REITs and 185 units for prospective tenants. The supply price, including both rental deposit and rent, is set at 60-80% of the market price in nearby areas. Even for the same area, prices vary depending on the target group. The standard rental deposit ranges from 39.1 million to 162 million KRW, and monthly rent ranges from 160,000 to 662,000 KRW.
Existing Happy Housing tenants can freely reapply for other Happy Housing units within the same target group. Considering the frequent mobility of youth, reapplication is freely allowed, and the total residence period across Happy Housing units is summed to comply with the maximum residence period limit for each target group.
Eligibility requires being a member of a household without a home as of the tenant recruitment announcement date, with a monthly average income per household member not exceeding 100% of the previous year's urban worker household income by household size, total household assets below 345 million KRW, and vehicle value below 37.08 million KRW. Differences may exist depending on the target group, and detailed information can be found in the tenant recruitment announcement. The announcement will be posted on the SH Corporation website on the 26th.
Applications can be submitted through the SH Internet Application website from the 8th to the 10th of next month. However, elderly or disabled persons who have difficulty applying online can visit the corporation on the 10th to apply in person.
Document screening candidates and winners will be announced on the 20th of next month and August 30th, respectively, and move-in will be possible from November onward.
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