Supplied at 60-80% of Market Rent
Applications Accepted on SH Corporation Website Starting May 7
Seoul Housing and Communities Corporation (SH Corporation) is offering 354 units of Happy Housing at rates lower than market prices for young people, newlyweds, and seniors. Starting with this recruitment, applicants with children under the age of two will be given priority among those eligible for preferential supply.
On April 25, SH Corporation announced that it would be recruiting tenants for 354 Happy Housing units, including Seoul REITs Happy Housing, at locations such as Godeok Onbitchae.
Happy Housing is a public rental housing program for young people, newlyweds, and seniors, offered at 60 to 80 percent of the surrounding market price. University students and young people can reside for up to 10 years, newlyweds with children for up to 14 years, and seniors for up to 20 years.
This round of Happy Housing recruitment is limited to re-supplied complexes, including Godeok Onbitchae. It targets 192 remaining vacant units and 162 units for reserve tenants.
The average deposit and monthly rent by unit size are as follows: for units up to 29 square meters, the deposit is 76.45 million won and the monthly rent is 290,000 won; for units up to 39 square meters, the deposit is 129.81 million won and the monthly rent is 490,000 won; for units up to 43 square meters, the deposit is 177.6 million won and the monthly rent is 640,000 won.
Current Happy Housing tenants can freely reapply for other Happy Housing units within the same eligibility category. The total period of residence in all Happy Housing units is combined, and the maximum allowable residence period by eligibility category applies.
Starting with this recruitment, SH Corporation will give priority to applicants with children under the age of two (born after April 25, 2023) when selecting those eligible for preferential supply. This priority is applied only during the selection of preferential supply recipients. If the number of applicants with children under two exceeds the number of candidates for document screening or winners, a random draw will be conducted.
As of the announcement date (April 25), applicants must be members of a homeless household, have a monthly average household income in the previous year at or below 100 percent of the urban worker household average by household size, total assets not exceeding 337 million won, and vehicle value not exceeding 38.03 million won. Detailed information can be found in the official announcement.
Applications can be submitted through the SH Internet Subscription System from May 7 to May 9. However, for seniors or persons with disabilities who have difficulty applying online, in-person applications at the SH office will be accepted on May 9.
Candidates for document screening will be announced on May 19, and successful applicants will be announced on August 29. Move-in will be possible starting in October this year. Detailed information, including site layout, floor plans, application schedule, and online application methods, can be found through the SH Corporation Call Center and the SH Internet Subscription System.
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