For newlywed couples in the Incheon area, 'Cheonwon Housing' with a daily rent of 1,000 won will be supplied for the first time. On the 10th, Incheon City announced a preliminary tenant recruitment notice for Cheonwon Housing (purchased rental housing) targeting newlywed couples.
Cheonwon Housing is an Incheon-style housing welfare policy that rents out purchased rental housing or jeonse rental housing directly selected by tenants at a daily rent of 1,000 won (30,000 won per month). Incheon City introduced this policy nationwide for the first time to reduce the housing cost burden on newlywed couples and provide practical support for childbirth and child-rearing.
After signing a business agreement for the supply of Cheonwon Housing with Incheon Urban Corporation (iH) in December last year, the city allocated the related budget and completed administrative procedures such as consultations with the Ministry of Health and Welfare on the establishment of social security systems.
Incheon Mayor Yoo Jeong-bok is announcing the Incheon-type low birthrate housing policy 'i+Jip dream,' which includes the supply of newlywed couples' 1,000 won housing. 2024.7.9 Provided by Incheon City
The Cheonwon Housing to be supplied this time consists of 500 public rental housing units (newly built multi-family housing with a net floor area of 85㎡ or less) owned or purchased by Incheon Urban Corporation (iH), and 1,000 preliminary tenants, twice the number of units, will be selected.
Applicants must be newlywed couples or prospective newlywed couples within 7 years of marriage in the Incheon area, single-parent families, or married households, and must apply in person at Incheon City Hall from the 6th to the 14th of next month. Preliminary tenants will be announced on June 5. Detailed information about the recruitment can be found on the websites of Incheon City, Incheon Urban Corporation, and the My Home Portal.
The priority for moving in is set as follows: households with newborns are first priority, newlywed couples with children are second priority, and newlywed couples without children are third priority. If competition occurs within the same priority, the ranking is determined through additional scoring items. The usage period is basically 2 years initially, up to a maximum of 6 years. The city analyzed that the Cheonwon Housing rent is about 4% of the average monthly rent of private housing in the city (760,000 won).
The city plans to supply 1,000 units annually and will sequentially recruit starting with purchased rental housing and then jeonse rental housing. In the case of jeonse rental housing, newlywed couples directly select apartments or villas with a net floor area of 85㎡ or less from the market, and the city signs a jeonse contract with the landlord and then supplies the housing to the newlywed couples.
An official from Incheon City stated, "We hope that the Cheonwon Housing project will be an opportunity not only to support housing but also for newlywed couples to have children, raise them happily, and firmly establish their lives in Incheon."
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