Gyeonggi Urban公 to Supply 232 Purchased Rental Housing Units

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Urban Innovation Corporation is recruiting prospective tenants for purchased rental housing.

Purchased rental housing refers to existing multi-family houses and other dwellings that are purchased and renovated by Gyeonggi Urban Innovation Corporation with support from the Housing and Urban Fund and Gyeonggi Province's finances to ensure housing stability for low-income residents. These houses are rented out at 30-50% of the market price. This time, Gyeonggi Urban Innovation Corporation is supplying three types of purchased rental housing: long-term vacant, youth type, and youth worker type.

The total supply volume is 232 units, including 160 long-term vacant houses, 52 youth worker houses, and 20 youth type houses. The supply areas cover 16 cities and counties within the province, and the youth worker houses are located in places convenient for commuting to industrial complexes in Dongducheon, Namyangju, Osan, Gimpo, Icheon, and Suwon.

Eligibility requires applicants to be members of a household without home ownership, with detailed qualification criteria such as income and assets varying by housing type. Notably, for this recruitment, the eligibility for long-term vacant houses has been adjusted to members of non-home-owning households with an income at or below 100% of the previous year's average monthly income per urban worker household as announced by Statistics Korea.

For reference, the previous year's average monthly income per urban worker household is 2,645,147 KRW for a single-person household, 4,379,809 KRW for two-person households, 5,626,897 KRW for three-person households, and 6,226,342 KRW for four-person households.

If a household applies for more than two houses simultaneously, all applications will be invalidated.

The initial contract period is two years, and upon meeting renewal conditions, youth type and youth worker houses can be occupied for up to six years, while long-term vacant houses can be occupied for up to 20 years.

Applications for youth type and youth worker houses are accepted from the 13th to the 17th of next month, and for long-term vacant houses until the 24th of next month. For more details, please refer to the Gyeonggi Urban Innovation Corporation website (www.gico.or.kr).

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