1,674 Units of Selective Public Rental Housing to Be Supplied in Eco Delta City Blocks 25 and 26
Option to Purchase After 6-Year Lease
Serving as a Housing Ladder for Homeownership
Busan Metropolitan City Corporation (BMC) is promoting the supply of ‘sale conversion option (6-year lease) public rental housing’ within the waterside area of Eco Delta City in Gangseo-gu, Busan.
The sale conversion option public rental housing allows residents to live for six years at an affordable rent and then freely choose whether to purchase the housing at the end of the lease period.
BMC plans to supply a total of 1,674 units of option rental housing with a net area of 85㎡ or less (national housing size) in blocks 25 and 26 within the waterside area of Eco Delta City in Gangseo-gu, Busan, and is currently proceeding with the participation process for the new project, aiming to start construction in 2027.
Of the total supply units, 90% will be specially allocated to ▲youth ▲multi-child families ▲newlyweds ▲first-time homebuyers ▲families supporting newborns and elderly parents, while the remaining 10% will be generally supplied to non-homeowners who need to secure their own homes.
The sale conversion option public rental housing is expected to be an attractive choice as it provides non-homeowners with the opportunity to actually reside and prepare a lump sum at an affordable price while housing purchase costs increase due to recent decreases in housing supply and rising sale prices.
Shin Chang-ho, President of Busan Metropolitan City Corporation, said, “We expect that housing welfare that is felt by non-homeowning citizens will be realized,” and added, “We will do our best to stabilize citizens’ housing by expanding the supply of quality public housing.”
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