Busan Urban Corporation Begins Recruitment for Ilgwang Integrated Public Rental Housing Residents

Applications Accepted from March 31 to April 11...
Rent Set at 35-90% of Market Price, Up to 30 Years Residency
For General Supply, Any Household Without Home Ownership
That Meets Income Requirements May Apply

Busan Metropolitan Corporation (BMC, President Shin Changho) announced on the 19th that it will be accepting applications for tenants for 1,134 units of the 'Ilgwang Integrated Public Rental Housing' located in Ilgwang New Town, Gijang-gun, from March 31 to April 11.

The Ilgwang Integrated Public Rental Housing is the first integrated public rental housing to be supplied in Busan, and will be offered at a reasonable rent, set at 35% to 90% of the surrounding market price. Residents can stay for up to 30 years, ensuring long-term housing stability.

The housing units to be supplied are scheduled for occupancy in December this year, and will be built in seven buildings ranging from two basement floors to 25 above-ground floors. The housing types include ▲39㎡ (Type A, Type AH, Type B) ▲49㎡ (Type A) ▲59㎡ (Type A, Type B). Notably, even single-person households can apply for units up to 59㎡, providing a suitable option for those who desire more spacious living.

Eligibility is limited to households without home ownership, with priority given to national merit recipients, families with multiple children, persons with disabilities, beneficiaries of basic livelihood security, youth, newlyweds, and the elderly. For general supply, any household without home ownership that meets certain income requirements may apply, significantly lowering the entry barrier compared to existing public rental housing.

In addition, due to the nature of public rental housing, there is no concern about the return of the rental deposit, and moving out is relatively easy if the tenant's housing situation changes, allowing for flexible living plans.

The housing is located directly behind Ilgwang Elementary School and is close to various amenities and a well-established transportation network in Ilgwang New Town. Rental conditions vary according to the tenant's income level, and a mutual conversion system is in place, allowing adjustment of the rental deposit and monthly rent.

The tenant recruitment notice will be announced on the 19th, and applications can be submitted online through the corporation's website (BMC Subscription Center). However, applicants who have difficulty using the internet can visit the corporation in person to apply.

Shin Changho, President of Busan Metropolitan Corporation, said, "I hope that the first integrated public rental housing supplied in Busan will contribute to housing stability for citizens," and added, "We will continue to expand the supply of various housing options for real demanders."