Average Competition Rate for Mirinae Jip, Including Imun IPark Xi, Reaches 64.3 to 1

23,608 Applicants for 367 Units
Riversen SK View 84㎡ Newly Supplied Complex Sees 78 to 1 Competition Ratio

Seoul Housing and Communities Corporation (SH Corporation) announced that the fourth round of tenant recruitment for 'Long-term Lease Housing II (Mirinae Jip)', including Imun IPark Xi, recorded an average competition rate of 64.3 to 1.

Seoul Mayor Oh Sehoon announced on the 10th at Seoul City Hall that 300 long-term lease housing units II (Shift2) for newlyweds will be officially supplied. The 300 newlywed households selected this time will move into Olympic Park Foretune in Dunchon-dong, Gangdong-gu, starting early December. Photo by Heo Younghan younghan@

On April 29, SH Corporation stated that 23,608 people applied for 367 units of Long-term Lease Housing II, including Imun IPark Xi. This far surpassed the competition rate of the third round of Long-term Lease Housing II recruitment, which was 38 to 1. The highest competition rate was recorded at Hoban Summit Gaebong 59㎡, a re-supplied complex, at 759.5 to 1.

By type, the competition rates for newly supplied complexes were 78 to 1 for Riversen SK View Lotte Castle 84㎡, and 41.5 to 1 for Imun IPark Xi 59㎡. For re-supplied complexes, DMC SK View 84㎡ recorded 240.3 to 1, Lotte Castle Twin Gold 59㎡ recorded 218.5 to 1, and Olympic Park Foretune 59㎡ recorded 207.1 to 1.

'Long-term Lease Housing II (Mirinae Jip)' is a low birthrate countermeasure that provides stable housing and opportunities for homeownership to newlyweds who are planning to have children or get married. Long-term Lease Housing II offers the chance to live in newly built apartment complexes at prices lower than the market rate for at least 10 years, and up to 20 years if a child is born. Unlike the original long-term lease housing, priority purchase rights are granted as a childbirth incentive, and households with two or more children are given the opportunity to move to a larger unit.

Starting with this recruitment notice, SH Corporation abolished the previous selection criteria that distinguished applicants based on whether they had children. Regardless of whether applicants have children, the opportunity to move in is now broadly available. In addition, childbirth incentives are provided, such as extending the contract period after childbirth and easing income requirements at the time of contract renewal.

SH Corporation plans to announce the list of applicants who pass the document screening on May 12. Afterward, additional screenings will be conducted to verify eligibility, including income, assets, and homeownership status, and the final successful applicants will be announced on August 8.

Hwang Sangha, President of SH Corporation, said, "We will focus our efforts this year on supplying 3,500 Mirinae Jip units, including non-apartment types, to provide a high-quality, child-rearing-friendly residential environment for newlyweds and engaged couples who wish to have and raise children."