From the 25th, Eight Districts Including Geumjeong and Dongnae
Busan Metropolitan Corporation (BMC, President Kim Yonghak) announced on the 19th that it will be recruiting tenants for 74 units of youth purchase rental housing to help stabilize housing for young people in the Busan area.
Youth purchase rental housing is a type of public rental housing where BMC purchases multi-family and multi-unit houses in urban areas and rents them to young people at 40-50% of the market price. BMC continuously acquires about 200 units of purchase rental housing (including youth and general types) each year and currently manages 2,736 units.
In this recruitment, three times the number of available units, including reserve tenants, will be selected for 74 units located in eight districts, including Geumjeong-gu, Dongnae-gu, and Suyeong-gu.
A BMC official stated that youth purchase rental housing is located near downtown areas with convenient access to public transportation, such as near subway stations, and is therefore expected to attract high demand from young people.
Eligible applicants are unmarried young people without a home as of the announcement date who meet income and asset requirements. Those recognized as youth include: ▲ individuals aged 19 to 39 ▲ university students ▲ job seekers.
The rental period is initially two years and can be extended up to a maximum of ten years if the tenant continues to meet the eligibility requirements.
Applications can be submitted through the BMC subscription center: for first priority (recipients of basic living security, lower-income groups, and single-parent families under protection) from June 25 to 27, and for second and third priority from July 2 to 4. Detailed information can be found in the announcement posted on the Busan Metropolitan Corporation website.
Kim Yonghak, President of Busan Metropolitan Corporation, said, "We hope that the recruitment of tenants for youth purchase rental housing will provide a stable home for young people struggling to secure housing," and added, "We will do our utmost to ensure housing stability for the younger generation through continuous supply of public rental housing and customized housing welfare."
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