Purchased 72 Units for Youth Supply... Ulsan City Announces Second Half Year Purchase-Contract Rental Housing Contest

Application Period: November 25 to 29

Ulsan City will hold a public contest for the "Second Half of the Year Newly Built Purchase Agreement Rental Housing" from November 25 to 29 to help stabilize housing for young people.

The newly built purchase agreement rental housing project is a method where the city signs a prior purchase agreement with private developers, and after the private developers construct the housing, Ulsan City purchases it and supplies it to young people.

This method has the advantage of shortening the time required for selecting constructors and supervisors, enabling rapid supply of rental housing. It is also expected to contribute to revitalizing the local construction industry through the participation of regional construction companies.

The 2024 plan for selecting newly built purchase agreement rental housing includes a total of 120 units, with 48 units selected in the first half of the year and about 72 units planned for selection in the second half.

The purchase target is residential buildings with a net residential area of 19 to 24㎡ per household, and the purchase price will be finalized after appraisal by a certified appraiser, with a maximum of 130 million KRW per unit.

To ensure quality, Ulsan City plans to conduct inspections on major structures and facilities during construction and thoroughly check aspects related to the residential environment such as insulation, waterproofing, and noise blocking after completion, strengthening quality inspections.

Applicants must be individuals or corporations with an address in Ulsan City. Applications can be submitted by visiting the Ulsan City Architecture Policy Division from November 25 to 29 and submitting the purchase agreement application form along with related documents.

In the first evaluation, applicants scoring 80 points or higher will be selected based on convenience factors such as public transportation accessibility. In the second selection committee, the final developer will be chosen through a comprehensive review of parking, layout, and floor plan.

After signing the purchase agreement with the final selected private developers, Ulsan City plans to supply the housing to young people around June 2026. For more details, please refer to the purchase announcement posted on the Ulsan City website.

An official from Ulsan City stated, "We will strive to promote this project to reduce the housing cost burden on young people, contribute to housing stability, and prevent outflow from Ulsan."