Recruitment Starts from the 27th
Move-in Begins as Early as Early October This Year
The Ministry of Land, Infrastructure and Transport will begin recruiting tenants for purchase rental housing for youth and newlywed/newborn households in 14 out of 17 cities and provinces nationwide starting from the 27th. The recruitment scale is a total of 4,277 units, including 2,845 units for youth and 1,432 units for newlywed/newborn households. After verifying applicant qualifications, move-in can begin as early as early October this year.
Purchase rental housing is a type of public rental housing that offers advantages such as excellent locations and quick move-in. It is especially popular among youth and newlywed couples because it allows long-term residence at affordable rents. This time, new tenants will be recruited for 2,397 units in the metropolitan area, including 994 units in Seoul, which is expected to contribute to stabilizing the rental market in the metropolitan area.
Youth purchase rental housing is supplied to unmarried youth without home ownership. They can live for up to 10 years at affordable rents at about 40-50% of market prices.
Newlywed/newborn purchase rental housing is supplied to newlywed couples without home ownership and is divided into 'Newlywed/Newborn Type I' (1,035 units) at about 30-40% of market prices and 'Newlywed/Newborn Type II' (397 units) at about 70-80% of market prices.
Newlywed/Newborn Type I targets households with an average monthly income of 70% (90% for dual-income) or less of urban worker households, while Type II targets households with an average monthly income of 100% (120% for dual-income) or less of urban worker households.
Newborn households are recruited as first-priority tenants and given preferential supply. Newlywed couples married within 7 years, prospective newlyweds, and households raising children under 6 years old can also apply for newlywed/newborn purchase rental housing.
Newborn households refer to those with children born within the last 2 years from the date of the tenant recruitment announcement. Households with fetuses confirmed by pregnancy certificates or adoptees born within 2 years are also included.
Additionally, from the 27th, recruitment announcements will be made for Dundeun Jeonse housing (1,634 units), newly built homes with exclusive areas of 60-85㎡ supplied regardless of income or asset requirements, designed for comfortable living for 3-4 person households. Points will be awarded to newborn and multi-child households to support childbirth households.
Youth (1,745 units) and newlywed/newborn (1,399 units) purchase rental housing recruited by Korea Land & Housing Corporation (LH) can be checked for location, area, rent, and tenant qualification information on the LH Subscription Plus website starting from the 27th.
Purchase rental housing (1,133 units) recruited by Seoul Housing & Communities Corporation (SH) can be checked on the respective institution’s website.
Lee Gi-bong, Director of Housing Welfare Policy at the Ministry of Land, Infrastructure and Transport, stated, “We plan to actively supply high-quality newly built purchase rental housing in good locations within urban areas by next year. In particular, to overcome the low birthrate crisis, we will expand the supply volume for newborn households to alleviate housing burdens and make our best efforts.”
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