Five Locations Including Gumi, Gyeongsan, and Pohang
Up to 20 Years of Residency Possible
Gyeongbuk Open Corporation (President Lee Jaehyuk) announced on May 19 that it has begun accepting applications for general purchase rental housing for residents of North Gyeongsang Province who do not own a home. The available purchase rental housing units are located in five areas: Gumi, Gyeongsan, Pohang, Gyeongju, and Chilgok 3. Specifically, there are 34 units in Gumi, 21 in Gyeongsan, 47 in Pohang, 24 in Gyeongju, and 36 in Chilgok, totaling 162 units.
The general purchase rental housing units being supplied this time have been selected in locations close to urban centers to enhance the residential convenience for vulnerable groups. In addition, in order to alleviate the housing cost burden for these groups, the units will be offered at rental rates that are 30% or more below the surrounding market prices.
Eligibility requirements specify that applicants must be members of households without home ownership residing in the relevant cities or counties, and must meet certain income and asset criteria. Those who meet the requirements may reside in the units for up to 20 years.
The application period runs from 10:00 a.m. on June 4 to 4:00 p.m. on June 17. There are no age restrictions for applicants, and vulnerable groups such as recipients of basic livelihood or medical benefits and low-income elderly individuals are being recruited as first-priority tenants. To enhance application convenience, applications will be accepted on-site rather than online or by mail.
Additionally, the public rental housing being supplied consists of newly constructed purchase rental units. The quality of the residential environment was given top priority. After a set period during which applicants can visit and inspect the units, they may submit a list of desired units for contract, ensuring both the applicants' right to choose and their chances of being selected. The period for unit inspection and submission of desired unit lists is from May 23 to May 29.
Lee Jaehyuk, President of Gyeongsangbuk-do Development Corporation, stated, "We are making efforts to provide affordable housing to young people, newlyweds, households with newborns, and vulnerable groups in North Gyeongsang Province by supplying about 200 purchase rental housing units each year. We will continue to strive to provide quality housing at affordable prices in order to actively respond to the stabilization of residents' housing and the low birthrate crisis."
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