First Happy Housing Tenant Recruitment of the Year... Applications Open from the 7th of Next Month

[Asia Economy Reporter Je Moon-won] Starting from the 7th of next month, the first recruitment of tenants for this year's Happy Housing will begin.

The Ministry of Land, Infrastructure and Transport announced on the 26th that applications for tenants will be accepted from the 7th to the 18th of next month for six Happy Housing sites. The Happy Housing units open for application this time include 1,894 units in three metropolitan areas: Guri Sutaek (394 units), Paju Unjeong (1,000 units), and one more, as well as 776 units in three local areas: Busan Mora (390 units) and Daejeon Sangseo (296 units).

A total of 25,000 Happy Housing units will be supplied this year. Starting with this first round of tenant recruitment, tenants will be recruited quarterly in a total of four rounds.

Happy Housing is public rental housing supplied to ensure housing stability for young people such as youth and newlyweds, as well as housing-vulnerable groups. The rent is affordable at about 60-80% of the surrounding market price. University students and youth can live for up to 6 years, newlyweds up to 10 years, and elderly and housing benefit recipients up to 20 years.

Previously, newlyweds were subject to the same income criteria (100% of the average monthly income) regardless of whether both spouses worked, but from this year, relaxed income requirements (120% of the average monthly income) for dual-income newlyweds have been added to expand eligibility.

Additionally, residency and non-homeownership period requirements for elderly and housing benefit recipients have been removed. Previously, elderly and housing benefit recipients wishing to move into Happy Housing had to have no home ownership in the housing construction area and have lived there for more than one year.

The eligibility for job-linked Happy Housing, such as startup support housing and industrial complex-type Happy Housing, has been expanded. Not only entrepreneurs but also employees of the startup companies can now move into startup support housing.

Regarding the income criteria for Happy Housing eligibility, previously, households with three or fewer members applied the average monthly income of urban workers per household from the previous year. However, from this year, even households with three or fewer members will apply the average monthly income per household according to the number of household members based on the previous year's urban worker data, expanding opportunities for low-income households of one to two members.

From this Happy Housing recruitment, all successful applicants will sign lease contracts through the Ministry of Land, Infrastructure and Transport's real estate transaction electronic contract system. Electronic contracts can be easily completed via computer or smartphone, and the housing lease confirmation date is automatically applied for.

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