Brokerage Fee for Rentals Under 100 Million Won Set at 1,000 Won... Incheon City to Launch 'Cheonwon Bokbi' Next Year

Incheon City is expanding housing welfare benefits for young people and newlyweds without homes in an effort to address the issues of low birth rates and population decline.

On November 28, the city announced that it will launch the "Thousand Won Brokerage Fee" project in January next year, which will provide support for rental brokerage fees for housing-vulnerable groups.

This project supports residents registered in Incheon-such as newlyweds without homes, young people, and basic livelihood security recipients-by covering the brokerage fee for rental transactions of homes priced at 100 million won or less. While the brokerage fee can be up to 300,000 won, beneficiaries will only need to pay 1,000 won out of pocket, with the city covering the remainder.

Next year, the city plans to allocate a budget of 300 million won to support brokerage fees for a total of 1,000 households.

Earlier this year, the city launched the "i+ Home Dream" project, a housing policy for newlyweds and newborns unique to Incheon.

Among these initiatives, the "Thousand Won Housing" program offers rental homes at a daily rent of 1,000 won (30,000 won per month) with city budget support. The initial lease term is two years, extendable up to six years. This year, 1,000 units were supplied, receiving a strong response from newlyweds, and another 1,000 units are planned for next year.

The city also plans to newly provide the "1.0 Loan" program for 3,000 households next year, which offers up to 1% interest support for families with newborns who have taken out mortgage loans.

An official from Incheon City stated, "We will continue to develop policies that expand housing welfare for young people and newlyweds without homes and do our best to reduce the burden of housing costs."