SH Corporation to Supply 2,316 Long-Term Jeonse Housing Units... Largest Volume in 7 Years

[Asia Economy Reporter Choi Dong-hyun] More than 2,300 large-scale long-term lease housing units will be supplied in Seoul for the first time in seven years.

Seoul Housing and Communities Corporation (SH Corporation) announced on the 15th that it will recruit tenants for 2,316 large-scale long-term lease housing units across 37 complexes including Godeok Gangil District complexes 4, 6, 7, 8, and 9, Magok complex 9, and Wirye District block 13. This supply volume is part of the large-scale land development projects in Godeok Gangil, Magok, and Wirye districts promoted by SH Corporation, marking the largest new supply in seven years since the tenant recruitment announcements for Segok, Naegok, and Magok districts in 2013.

Long-term lease housing requires a jeonse deposit amounting to 80% or less of the surrounding jeonse market price. The jeonse deposits for the units supplied this time range from 237.3 million KRW to 589.4 million KRW.

General supply eligibility requires applicants to be members of a household without homeownership residing in Seoul as of the tenant recruitment announcement date. Applicants must meet certain income, real estate, and automobile criteria per household depending on the application area. For housing units of 85㎡ or less (exclusive area), subscription priority is given based on the number of times the applicant has subscribed to the Comprehensive Subscription Savings. For units exceeding 85㎡, subscription priority is determined by the amount deposited in the Comprehensive Subscription Savings. Priority supply eligibility covers 1,164 units allocated to applicants qualifying under 23 categories including multi-child families, elderly parents support, persons with disabilities, single-parent families, newlyweds, national merit recipients, and small and medium enterprise workers.

Subscription applications will be accepted from the 28th of this month to June 2nd, conducted online and via mobile to prevent the spread of COVID-19. For elderly or disabled applicants who must visit in person, first-priority in-person subscription reception will be held for the first time on the weekend of the 30th. If the number of first-priority applicants exceeds 300% of the supply units, second-priority applications will not be accepted.

Announcement of document screening candidates will be on June 17th, and the winners will be announced on September 25th. For move-in, remaining vacant units will be available from October, and newly supplied complexes will be available sequentially from October depending on their completion schedule. Site maps, floor plans, detailed schedules, and subscription methods can be checked on the SH Corporation website.

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