Busan Urban Corporation Recruits Residents for Phase 1 of Happy Housing in Front of City Hall

692 Generation Properties Priced at 60-80% of Surrounding Market Value

Busan Metropolitan Corporation (BMC) will be accepting applications for tenants for 692 units in the Happy Housing Complex 1 in front of City Hall from the 29th until November 8th.

Happy Housing is a type of public rental housing provided at 60% to 80% of the surrounding market price, offering affordable conditions to reduce housing costs.

Happy Housing Complex 1 in front of City Hall is located in the center of Busan, offering abundant living infrastructure such as convenient transportation and administrative facilities. It is a transit-oriented area with BRT and City Hall subway station just a 3-minute walk away. Administrative facilities such as Busan City Hall, the Police Agency, and Yeonje District Office are within a 5-minute walk, and a large supermarket, traditional market, and local commercial areas are within a 10-minute walk, providing an excellent living environment.

Happy Housing Complex 1 in front of City Hall consists of two buildings, each 37 stories high. The housing types, based on exclusive residential area, are officetel-type 26m² (103 units), 26m² (278 units), 36m² (236 units), and 44m² (75 units).

Eligible applicants are those who are homeless or members of a homeless household, including university students, job seekers, young adults, newcomers to society, newlyweds (including engaged couples), single-parent families, seniors, and recipients of housing benefits.

Among these, 60 units for newlyweds will be selected as part of Busan City's Newlywed Lucky 7 House project, and will receive full support for rental deposit loan interest and monthly rent for up to 7 years.

The residency period is 6 years for university students and young adults (including job seekers and newcomers to society), 6 years for newlyweds (10 years if they have children), and 20 years for seniors and housing benefit recipients. The rental terms range from a basic deposit of 35.25 million to 73.76 million KRW and a basic monthly rent of 140,000 to 310,000 KRW.

Applicants can apply online through the Busan Metropolitan Corporation website (BMC Subscription Center). However, applicants such as seniors who have difficulty applying online can visit BMC in person with the required documents between 10 a.m. and 4 p.m. during the application period.

Kim Yonghak, President of Busan Metropolitan Corporation, said, "We hope that this supply of Happy Housing will contribute to the housing welfare of Busan citizens," and added, "We will take the lead in realizing housing stability by providing a variety of housing options that meet the expectations of citizens."