Seoul City Supports Home Repairs in Old Low-Rise Residential Areas Including Euncheon-dong

Seoul Urban Regeneration Committee Designates 4 Housing Performance Improvement Support Areas
Gwanak-gu Euncheon-dong Redevelopment Zone Deregulated Area
Gwanak-gu Cheongnim-dong Planned Redevelopment Zone Deregulated Area
Gwangjin-gu Guui-dong Maximum Height District Area
Nowon-gu Wolgye-dong Alleyway Regeneration Project Site

Euncheon-dong (Redevelopment Zone Deregulated Area) Housing Performance Improvement Support Zone

The Seoul Metropolitan Government has designated four areas, including the redevelopment project cancellation area in Euncheon-dong, Gwanak-gu, as Housing Performance Improvement Support Zones to revitalize home repairs in old and deteriorated low-rise residential areas.

On the 21st, Seoul announced that all four agenda items regarding the designation of Housing Performance Improvement Support Zones, submitted to the Urban Regeneration Committee on the 20th, were approved. The newly designated areas are ▲redevelopment project cancellation area in Euncheon-dong, Gwanak-gu ▲redevelopment project cancellation area in Cheongnim-dong, Gwanak-gu ▲the highest altitude district area in Guui-dong, Gwangjin-gu ▲and the alleyway regeneration project site in Wolgye-dong, Nowon-gu.

Housing Performance Improvement Support Zones refer to areas designated to receive home repair support even outside urban regeneration activation areas and managed residential environment improvement projects. To support this initiative, Seoul revised the "Ordinance on Support for Home Repairs in Low-rise Residential Areas in Seoul." Areas where more than 60% of low-rise houses are over 20 years old after approval of use, such as planned managed residential environment improvement project sites, redevelopment project cancellation areas, scenic and altitude districts, and alleyway regeneration project zones, can be designated as Housing Performance Improvement Support Zones after review by the Urban Regeneration Committee.

Once designated, residents can receive home repair subsidies under the Seoul Beautiful House Project. Depending on the type of housing, 50-100% of construction costs, up to a maximum of 20 million KRW, will be supported. They can also benefit from the Housing Improvement Loan Support Project, a low-interest loan program for home repair construction costs. Before designation, the city subsidized 2% of the market interest rate, but after designation, low-interest loans at an annual rate of 0.7% will be available.

Kang Maeng-hoon, Director of the Urban Regeneration Office of Seoul, said, "We will continue to expand Housing Performance Improvement Support Zones to enable repairs of old and deteriorated houses in areas densely populated with aging low-rise houses," adding, "We expect sustainable residential environment improvements to be achieved."

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This content was produced with the assistance of AI translation services.