Starting from June, occupancy possible… Up to 50% cheaper compared to market rates.
(Seoul=News1) Reporter Hwang Bo-jun-yeop: The Ministry of Land, Infrastructure and Transport announced on the 25th that it will recruit tenants for rental housing for youth and newlywed/newborn families in 16 cities and provinces across the country starting from the 27th.
The recruitment scale includes 1,776 units for youth and 2,299 units for newlywed/newborn families, totaling 4,075 units. After verifying applicants’ qualifications, occupancy could begin as early as the end of June.
Youth rental housing is targeted at unmarried youth without homes, offering an affordable rent at 40-50% of the market rate for a maximum of 10 years.
The newlywed/newborn rental housing targets newlywed couples without homes and is divided into newborn/newlywed Type I (1,290 units) at 30-40% of market rates and newborn/newlywed Type II (1,009 units) at 70-80% of market rates.
Newborn families are prioritized as first-rank applicants and are given priority supply. Newlywed couples within 7 years of marriage, engaged couples, and families with children under 6 years old can also apply for the newlywed/newborn rental housing.
The youth (1,676 units) and newlywed/newborn (1,399 units) rental housing offered by the Korea Land and Housing Corporation (LH) can be checked on the LH Cheongyak Plus website from the 27th.
The rental housing (1,000 units) recruited by the Seoul Housing and Communities Corporation and other organizations can be checked on the respective agency websites.
Kim Do-gon, head of the Housing Welfare Support Division at the Ministry of Land, Transport, and Maritime Affairs, said, “As this is the first rental housing recruitment of the year, we will do our utmost to support housing stability so that youth and newlyweds can make a fresh start in a stable living environment.”