Move-in Scheduled for June After On-site Public Lottery on May 22
Repairs Completed on Sink and Shoe Cabinet... Residents Respond Positively
Jeong Kimyeong, Mayor of Yeosu, South Jeolla Province, has announced the competition rate for the 'Zero Deposit Yeosu-type Youth Rental Housing.'
According to the city on April 29, a total of 459 applicants applied between April 14 and 25, significantly surpassing last year's 299 applicants, resulting in an average competition rate of 18.3 to 1.
By category, the competition rates were 3 to 1 for priority supply, 6.3 to 1 for newlyweds, 24.8 to 1 for Yeosu citizens (youth), and 8 to 1 for prospective residents (youth).
This year, the city is offering a total of 25 youth rental housing units: 1 for priority supply, 3 for newlyweds, 16 for Yeosu citizens (youth), and 5 for prospective residents (youth).
Notably, this year, a newlywed category was newly established. Households that have given birth while residing in the unit can stay for up to six years regardless of income, and households planning to marry within the year can also apply with a wedding hall contract. The city will select residents through an on-site public lottery at Yeosu Culture Hall on May 22 for qualified applicants, with move-in scheduled for June.
Mayor Jeong Kimyeong stated, "The Yeosu-type Youth Rental Housing support project is the result of proactive administration to help young people and newlyweds achieve economic independence," adding, "We plan to continuously expand supply to reach 200 units by 2028."
Meanwhile, the Yeosu-type Youth Rental Housing is a policy in which Yeosu City leases vacant rental apartments under a jeonse contract and provides them rent-free for a certain period to young people and newlyweds without homes, supporting their economic independence. The apartments are 20-pyeong public rental units located in Booyoung 9th Apartment in Munsu-dong.
This year, the city improved the indoor environment by replacing sinks and shoe cabinets and repairing verandas, while Booyoung Housing Co., Ltd. actively supported the improvements by providing wallpapering and flooring. Last year, the city supplied 17 units as a pilot project, which received a strong response, with the highest competition rate by category reaching 26.9 to 1.
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