SH Corporation to Supply 550 Long-Term Jeonse Housing Units

A bird's-eye view of Shinmagok Byeoksan Blooming located in 538-5 Banghwa-dong, Gangseo-gu, Seoul.

[Asia Economy Reporter Choi Dong-hyun] Seoul Housing and Communities Corporation (SH Corporation) announced on the 10th that it is recruiting tenants for long-term lease housing totaling 550 households across 87 complexes, including 'Sinmagok Byeoksan Blooming.' Long-term lease housing is rental housing supplied at 80% or less of the surrounding jeonse market price.

This supply targets the new reconstruction purchase-type complex Sinmagok Byeoksan Blooming located in Banghwa-dong, Gangseo-gu, Seoul, and remaining vacant units in 16 autonomous districts of Seoul, including Gangnam-gu and Gangdong-gu. Sinmagok Byeoksan Blooming has 25 households available, and the remaining vacant units from tenant departures and contract cancellations in existing complexes include 525 households in 86 complexes such as Gangil, Naegok, Segok, Ogeum, Banpo Xi, Seocho Gyodae e-Pyeonhansesang, and Songpa Raemian Fine Top.

The jeonse deposit for this announcement ranges from 92.25 million KRW to 735 million KRW.

Priority supply eligibility is given to four categories: those supporting elderly parents, households with three or more children, national merit recipients, and low-income working newlyweds, with 29 households supplied.

General supply eligibility requires applicants to be members of a household without homeownership residing in Seoul as of the recruitment announcement date, meeting certain income, real estate, and automobile criteria per household size. For housing under 85㎡ (exclusive area), subscription priority is determined by the number of subscription savings deposits, income conditions, and residence area according to the application area. For housing over 85㎡, priority is determined by the amount deposited in the subscription savings account.

Applications will be accepted by priority from the 21st to the 29th. To prevent COVID-19 and ensure applicants' safety, applications will be accepted only via internet and mobile. However, for elderly and disabled applicants who have difficulty using the internet, postal applications will be accepted on the 21st and 22nd only for general supply first priority, residential vulnerable first priority, and priority supply applicants. If the number of first-priority applicants exceeds 300% of the supply units, applications from lower priority applicants will not be accepted.

Document screening candidates and winners will be announced on January 15, 2021, and April 30 of the same year, respectively. Move-in will be possible from June 2021. Detailed application schedules, complex layouts, floor plans, and internet application methods can be found on the SH Corporation website.

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