Busan Urban Corporation Recruits Reserve Tenants for 120 Youth Purchase-Lease Housing Units

120 Units in 8 Districts Offered
Linked with Busan City's "Lifelong Together Youth All-Home Housing Cost Support Project"

Busan Urban Corporation (BMC, President Shin Changho) announced on April 28 that it is recruiting tenants and reserve tenants for 120 units of the "Youth Purchase-Lease Housing" program to support housing stability for young people.

The "Youth Purchase-Lease Housing" program involves leasing officetels and multi-family homes purchased by the corporation to young people in need of housing support at rental rates set at 40?50% of the market price.

Taking into account the housing needs of young people who frequently move for reasons such as study or employment, the units are located in areas with relatively convenient transportation, such as near subway stations and university districts. Depending on the housing conditions, amenities such as washing machines, refrigerators, and air conditioners are provided.

This particular offering is being conducted in conjunction with the "Lifelong Together Youth All-Home Housing Cost Support Project" promoted by Busan Metropolitan City. Among the tenants, those who are finally selected by Busan City will receive monthly rent support for up to six years (excluding a personal contribution of 30,000 KRW).

To qualify, applicants must be unmarried young adults without home ownership as of the announcement date and must meet the eligibility requirements for each priority group. The rental conditions are set at 40?50% of the market rent, and qualified tenants may reside for up to 10 years as long as they maintain their eligibility.

Applications for first-priority applicants will be accepted from May 12 to 13, and for second and third-priority applicants from May 26 to 27, through the "BMC Subscription Center." Detailed eligibility criteria and application procedures can be found in the recruitment notice posted on the Busan Urban Corporation website.

Shin Changho, President of Busan Urban Corporation, stated, "We hope that this supply of rental housing, in connection with the Busan City policy project 'Lifelong Together Youth All-Home Housing Cost Support Project,' will help stabilize housing for young people in the region." He added, "BMC will continue to provide high-quality housing in the city center to make Busan a city where young people want to stay."