Busan Urban Corporation, Over 6,000 Applicants for Happiness Housing Complex 1 in Front of City Hall

Average 9.1 to 1 Ratio for 692 Households

Busan Metropolitan City Corporation (BMC, President Kim Yong-hak) announced on the 11th that the application process for 692 units in the Happy Housing Complex 1 in front of City Hall, aimed at alleviating housing difficulties for young people and newlyweds, has closed amid high public interest.

From October 29 to November 8, a total of 6,282 applications were received for the 692 units, resulting in an average competition rate of 9.1 to 1.

Happy Housing is a public rental housing provided for citizens' residential welfare, attracting significant interest from young people due to its rent being 60-80% cheaper than surrounding market prices and the absence of risks related to jeonse fraud.

The Happy Housing Complex 1 in front of City Hall is located in the center of Busan and is equipped with abundant living infrastructure such as transportation and administrative facilities. It is a transit-oriented area with BRT and City Hall subway station just a 3-minute walk away, offering convenient transportation. Administrative facilities such as Busan City Hall, Police Agency, and Yeonje District Office are within a 5-minute walk. Additionally, large supermarkets, traditional markets, and alleyway commercial districts are located within a 10-minute walk.

BMC plans to announce the candidates required to submit documents in December and will select approximately three times the number of residents by category and supply type through ranking, scoring, and lottery methods. Candidates will be notified via the BMC Subscription Center and text messages. Document submission will be conducted through electronic and in-person applications at the BMC Subscription Center.

Kim Yong-hak, President of Busan Metropolitan City Corporation, said, “We are pleased to support housing stability for Busan citizens, including young people and newlyweds from various social groups,” adding, “We will continue to expand high-quality public rental housing to improve citizens’ residential welfare and do our best to ensure that more people can benefit.”