LH, First Tenants Recruitment for Public Jeonse Housing at 80-90% Market Price

Area 65~83㎡, Jeonse Deposit 180~250 Million KRW, Anyone Without a House Can Apply
Subscription Application from 19th to 21st, Winners Announced on May 27, Contracts and Move-in in Early June
Starting with This Announcement, 18,000 Units to be Supplied by the End of Next Year... Promoting Stability in Jeonse Supply and Demand

[Image source=Yonhap News]

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 8th that it is recruiting the first tenants for the newly introduced public jeonse housing under the government's 'Support Plan for Housing Stability for Low-Income and Middle-Class Households.' This housing is supplied temporarily (2021?2022) to middle-class households by public housing providers purchasing newly built multi-family, multi-household, and officetel residences with large areas and pleasant living environments in urban areas.

Tenants will be continuously recruited from this year, with a total of 18,000 units expected to be supplied by the end of next year. In line with the purpose of reducing the financial burden on actual users by offering jeonse prices lower than market rates and providing a stable residence period, tenants can live for up to six years without monthly rent by paying only a rental deposit amounting to 80%?90% of the market jeonse price.

The current recruitment volume consists of 117 units in two buildings located in Anyang-dong, Manan-gu, Anyang-si, with usable areas ranging from 65.08㎡ to 83.42㎡ and jeonse deposits between 180 million and 250 million KRW.

Applicants must choose only one of the two recruitment complexes (buildings). It is a principle that one household (all household members) can apply for only one unit, and if duplicate applications are submitted for both buildings, all applications will be invalidated, so caution is required.

Any household without homeownership can apply regardless of income or asset requirements. Households with three or more members are given first priority, and those with two or fewer members are second priority. If competition occurs within the same priority, tenants will be selected by lottery.

Applications can be submitted from the 19th to the 21st via the LH Application Center website or by mail. To prevent the spread of COVID-19, in-person applications are not accepted.

The announcement of successful applicants is scheduled for May 27, and contract signing will take place after June 3. Tenants can move in immediately upon payment of the remaining balance within the designated move-in period (60 days) after the contract.

Seo Chang-won, Head of LH Housing Welfare Headquarters, stated, "Public jeonse housing is expected to reduce the burden on low-income and middle-class households struggling with the jeonse crisis and contribute to resolving housing instability by providing a stable residence period of six years." He added, "We will do our best to continuously secure supply and provide timely housing to actual users."

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