Recruitment for 4,202 Tenants in Youth and Newlywed Purchase Rental Housing

The Ministry of Land, Infrastructure and Transport announced that starting December 18, applications will be accepted for youth, newlywed, and newborn family purchase rental housing in 13 cities and provinces nationwide. A total of 1,956 units are available for youth households and 2,246 units for newlywed and newborn households. After eligibility screening, selected applicants may be able to move in as early as March next year.

Youth purchase rental housing is intended for unmarried young adults without a home. Tenants can reside for up to 10 years at rental rates set at 40-50% of market value. For newlywed and newborn family purchase rental housing, there are two types: Type I (1,101 units) is offered at 30-40% of market value, and Type II (1,145 units) is offered at 70-80% of market value. The type is determined based on the average monthly income per urban worker household. Newborn households are recruited as first-priority applicants and are given priority supply. Newlyweds married within the past seven years, engaged couples, and households raising children under the age of six are eligible to apply for newlywed and newborn family purchase rental housing.

Applications for purchase rental units recruited by Korea Land and Housing Corporation can be checked on the LH Subscription Plus website starting December 18. Units recruited by Seoul Housing and Communities Corporation will accept applications in the middle to late part of next month. This recruitment for youth and newlywed purchase rental housing is the final batch for this year, bringing the annual cumulative supply to 16,723 units (9,843 units in the Seoul metropolitan area).

Seongbuk-dong LH Youth Purchase Rental in Seoul. Provided by the Ministry of Land, Infrastructure and Transport