Changwon Special City in Gyeongnam announced on the 21st that it has established the ‘2025 Apartment Supply Plan’ to realize Changwon-style customized housing, focusing on expanding 12 tailored housing welfare projects by class and target group, as well as promoting apartment management support projects, emphasizing universal housing welfare support.
Although the housing prices in Changwon Special City are expected to continue a generally downward stabilization trend, it is anticipated that a polarization phenomenon may occur from the second half of the year, where housing prices temporarily rise mainly in urban areas, school districts, convenience facilities, and new constructions, if the 2025 move-in volume is exhausted due to increased transaction volume linked to government real estate policies such as PF regulation relaxation and interest rate cuts.
Additionally, since it has been identified that the youth population in their 20s and 30s, who seek jobs and education, are moving out in large numbers to the Seoul and Gyeonggi metropolitan areas, the city plans to further accelerate the supply of Changwon-style customized housing that can prevent youth outflow and induce settlement through improved living environments.
This year, with the supply of 8,775 apartment units, the housing supply rate is expected to reach 110%, with 482.3 housing units per 1,000 people in Changwon City (compared to the national average of 430.2 units and OECD average of 462 units as of 2022). The city plans to efficiently manage housing demand and supply by establishing basic goals and directions such as formulating a comprehensive youth housing plan to supply 2,000 youth housing units by 2028.
To stabilize the housing market, create jobs, and attract and settle population, the city has set a goal of supplying 48,000 apartment units and moving in 42,000 units by 2028. Through the supply of high-quality customized housing, it aims to provide opportunities for actual demanders to own homes and promote housing stability for Changwon citizens.
The housing welfare budget for Changwon City this year has been set at 70.3 billion KRW, an increase of 6.6 billion KRW compared to last year’s 63.7 billion KRW.
In terms of project areas, the city will promote ▲housing benefits ▲rental deposit support ▲moving cost support ▲housing renovation projects for the disabled to assist low-income groups and people with disabilities facing economic difficulties, and will also implement ▲jeonse loan interest support ▲housing purchase loan interest support projects for newlyweds.
Furthermore, to alleviate housing insecurity among youth, the city will promote ▲the Ministry of Land, Infrastructure and Transport and Changwon City youth monthly rent support project ▲monthly rent support for victims of jeonse fraud and low-interest loan interest support projects for jeonse, and for general households, ▲jeonse deposit return guarantee fee support project ▲interest support for jeonse loans for multi-child (three or more children) families.
The apartment management support project provides partial support for maintenance and repair costs of common facilities such as roads, parking lots, water and sewage systems, playgrounds, retaining walls, and rooftops within aging apartment complexes. This year’s budget is set at 900 million KRW.
To ease citizens’ concerns about recent consecutive electric vehicle fires, new projects will support relocating underground electric vehicle charging facilities in apartments to above ground and installing rooftop emergency door opening devices.
The support targets apartments within the jurisdiction and small-scale apartments over 10 years old. Apartments will receive 20 to 40 million KRW depending on the number of households, small-scale apartments up to 20 million KRW, and community activation contest projects up to 5 million KRW.
Additionally, 45 million KRW will be provided annually for common electricity fees in permanent rental housing apartment complexes to contribute to improving residents’ quality of life by reducing management fee burdens for socially protected groups.
Hong Nampyo, Mayor of Changwon Special City, stated, “In 2025, we have expanded the budget focusing on life-centered projects for livelihood stabilization. In particular, we will actively promote customized housing welfare support projects for low-income groups such as youth, newlyweds, and people with disabilities.”
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