Imun IPark Xi and Riversen SK View Lotte Castle Newly Supplied
Total Asset Limit of 640 Million Won Applied Starting with This Recruitment
The 47th round of long-term jeonse apartment tenant recruitment covers 54 complexes and 527 units in total, including newly supplied units at Imun IPark Xi in Dongdaemun-gu and Riversen SK View Lotte Castle in Jungnang-gu (2 complexes), as well as resupplied units at 52 complexes such as Sangam 2 District and Cheonwang District.
Long-term jeonse housing (SHift) is a flagship brand first introduced in 2007 by then-Mayor Oh Sehoon, offering rental apartments at prices lower than market rates, with residents able to stay for up to 20 years.
The newly supplied units consist of 213 units (41 and 59 square meters) at Imun IPark Xi and 11 units (49, 59, 70, 84, and 100 square meters) at Riversen SK View Lotte Castle in Jungnang-gu, totaling 224 units. All of these are supplied as purchase-type units.
The resupplied units include 48 construction-type units by SH Corporation in areas such as Sangam 2 District and Cheonwang District, 97 purchase-type units by the Seoul Metropolitan Government including Olympic Park Foreon in Gangdong-gu, and 158 units from Seoul REITs No. 3, totaling 303 units including reserve tenants.
To be eligible, applicants must be adult members of a non-homeowning household residing in Seoul as of the recruitment announcement date. Applicants must meet the income criteria for each housing size (100%, 120%, or 150% or less of the average monthly income of urban workers), as well as asset criteria (total assets of 640 million won or less and vehicle value of 38.03 million won or less). The income and asset requirements may be relaxed by up to 20% depending on the number of children born.
Starting with this recruitment, the eligibility review will newly include total assets, which now comprise not only real estate and vehicles but also financial assets and liabilities. The total asset limit is 640 million won.
For general supply, eligibility for units of 85 square meters or less depends on income, residence, and the number of subscriptions to the housing subscription savings account according to the unit size. For units exceeding 85 square meters, subscription ranking is determined by the deposit amount and subscription period for the housing subscription savings account. Applicants for "housing for vulnerable groups" within the general supply must also meet additional requirements, such as being elderly or disabled.
Priority supply eligibility is given to the elderly, persons with disabilities, those supporting elderly parents, households with two or more children, and national merit recipients. Applicants who are not selected for priority supply are automatically considered for general supply for the same complex and unit size.
Applications can be submitted online or in person. The application periods are as follows: first priority on May 13-14, second priority on May 19, and third and fourth priority on May 21. Applicants must apply on the date corresponding to their priority. If the number of applicants exceeds 200% of the available units (300% for new complexes), applications for lower priorities will not be accepted.
Document screening candidates will be announced on June 20, and successful applicants will be announced on November 14. Move-in will be possible from December 2025 onward. For newly supplied complexes, move-in dates may vary depending on the completion schedule.
SH Corporation explained, "Long-term jeonse housing is a type of public rental housing that is not convertible to sale, supplied at a jeonse deposit of 80 percent or less of the surrounding market price, in accordance with Article 2, Paragraph 1, Subparagraph 4 of the Enforcement Decree of the Special Act on Public Housing, to ensure housing stability for non-homeowning residents of Seoul."
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