Gimhae City Supports Remodeling Costs Up to 15 Million KRW for Renting Vacant Houses

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, will begin recruiting applicants for the '2021 Together Sharing Housing' rental program starting on the 8th.

The Sharing Housing project supports landlords of houses that have been vacant for over a year, residences occupied by seniors aged 65 or older, and apartment buildings over 20 years old by providing remodeling costs. These homes are then rented out to low-income families, newlyweds, and young people at half the market price for monthly or yearly rent.

Landlords can receive support covering up to 80% of remodeling costs, with a maximum of 15 million KRW per building.

Tenants are allowed to reside for a mandatory rental period of 2 to 4 years.

The city has secured a project budget of 30 million KRW for two buildings this year and plans to first recruit landlords to secure rental housing before recruiting tenants.

Applicants interested in renting can visit the Apartment Housing Division at City Hall starting from the 8th to apply.

For more details, please refer to the announcement on the city’s official website.

A city official stated, “By supporting remodeling costs for abandoned vacant houses, senior-occupied residences, and aging apartment buildings, we hope not only to improve the living environment but also to provide affordable rental housing for vulnerable groups, offering some measure of assistance.”

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