LH to Recruit 615 Units of Dormitory-Style Youth Housing and Youth Purchase Rental

[Asia Economy Reporter Yoo In-ho] Korea Land and Housing Corporation (LH) announced on the 28th that it will recruit tenants for 615 units of dormitory-style youth housing and youth purchase rental housing targeting university students and young people.

Dormitory-style youth housing and youth purchase rental housing are rental homes supplied by LH by purchasing existing houses at prices lower than market rates to supplement the shortage of dormitories on campus and support the housing needs of young people who prefer proximity to work and residence.

The recruitment volume this time is a total of 615 units, including 162 units of dormitory-style youth housing and 453 units of youth purchase rental housing. By region, 279 units will be supplied in the metropolitan area and 336 units in provincial areas.

Considering the housing characteristics of young people who move frequently, essential household items such as refrigerators, microwaves, and desks are provided. Residents can live for up to 6 years under affordable rental conditions at about 50% of the market price.

However, since the location of the housing, eligibility, tenant selection method, and rental conditions differ depending on the type, applicants can choose the type that suits their situation.

Dormitory-style youth housing is for university students, graduate students, and those aged 19 to 39 who are homeless, with the applicant and parents’ income at or below 100% of the standard.

The market price is about 40% with a deposit of 600,000 KRW.

Youth purchase rental housing has the same eligibility criteria as dormitory-style youth housing but requires meeting asset and vehicle standards. The deposit ranges from 1,000,000 to 2,000,000 KRW, about 40-50% of the market price.

Dormitory-style Youth Housing	Youth Purchase Rental Housing
? Homeless university students, graduate students, aged 19 to 39? Applicant + parents’ income at or below 100% (no asset criteria)	? Homeless university students, job seekers, aged 19 to 39? Applicant’s income at or below 100% (must meet asset and vehicle criteria)
? Recruitment by priority, lottery in case of tie	? Recruitment by priority, scoring order in case of tie
? About 40% of market price (deposit 600,000 KRW)	? About 40-50% of market price (deposit 1,000,000 to 2,000,000 KRW)

Applications can be made online through the subscription center or mobile app from January 7 to 11 next year. After qualification screening, preliminary candidates will be announced on February 18 next year, and contracts and move-ins are expected to begin in February.

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