Recruitment of Tenants for 28,000 Public Rental Housing Units... Move-in Next Month

6,968 Purchased Rental Houses, 21,000 Jeonse Rental Houses
Youth Residents in Rental Housing Locations Also Eligible for Priority Application

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 6th that starting from the 17th, the first round of tenant recruitment for public purchase and jeonse rental housing for youth and newlyweds will begin in 16 cities and provinces nationwide.

The total recruitment volume is 27,968 units, and if applications are submitted within this month, move-in will be possible from next month.

This recruitment will newly apply the revised eligibility criteria for youth purchase and jeonse rental housing that were amended at the end of last year.

Until now, youth residing in the city, county, or district where the rental housing is located could only apply as the 4th priority regardless of household or income, but from this recruitment, they can apply as the 1st priority. However, for jeonse rental housing, this will apply only for applications submitted after the 20th.

In addition, the scope and standards of income and assets for eligibility have been simplified, and a point system has been introduced to assess the urgency of housing support within the same priority level.

The total number of purchase rental housing units being recruited is 6,968.

Among these, the youth category accounts for 1,369 units, which will be supplied with essential household appliances such as refrigerators, air conditioners, and washing machines, considering difficult housing characteristics. The rent is set at 30-50% of the surrounding market price, and tenants can live for up to 6 years.

The newlywed couple category consists of Type I (multi-family housing, etc.) with 2,764 units and Type II (apartments and officetels) with 2,578 units. Type II is a newly supplied category this year, with relaxed income criteria and increased support limits to diversify housing choices.

Notably, from this recruitment, the first purchase rental housing will be supplied in Jeju-do as well.

Jeonse rental housing, where public housing operators sign jeonse contracts with homeowners and then re-rent at prices lower than market rates, will supply a total of 21,000 units.

The youth category will supply 9,000 units, and the newlywed couple category will supply 12,000 units, with support amounts varying by type and region.

Detailed information on purchase rental housing such as supply areas, target housing, and eligibility will be announced from the 17th, and jeonse rental housing is being recruited on an ongoing basis so that youth and newlyweds can apply at their desired time.

A Ministry of Land official explained, "We will faithfully implement the annual supply plan this year as well to alleviate the public's housing concerns, and continuously reflect the opinions of demanders to improve the housing services of public rental housing."

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