Rental Fees at Half the Local Market Price... Support for Multi-Family Housing in Changwon Area

Expansion of Youth Rental Housing Supply through Diversification of Supply Types Including Private Company Participation

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 17th that it will publicly recruit target housing for the '2021 Private Sector Participatory Youth Housing Support Project.'

'Private Sector Participatory Youth Housing' supports renovations and the installation of basic household items necessary for living in private housing. The supported homeowners lease the housing to youth at about half the surrounding market price for six years.

Eligibility to apply includes owners of multi-family houses with five or more households located near university areas, industrial complexes, or other areas where many youth reside within Changwon, and whose buildings have been approved for use (completed) within the last 25 years.

Applicants wishing to participate can submit their application forms and related documents to the Changwon City Housing Policy Division from the 20th until June 11th. Results will be announced in July.

More detailed information can be found in the announcement on the websites of Gyeongsangnam-do, Changwon City, and Gyeongnam Development Corporation.

Meanwhile, on the 12th of last month, the province opened 'Geobuk-i House No. 2,' the first private sector participatory youth housing in the province, by renovating a private house in the Gimhae area. Currently, nine youths are residing there with a deposit of 1 million KRW and monthly rent ranging from 50,000 to 200,000 KRW.

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