LH, Recruiting Tenants for 1,000 Units of Incheon Geomdan National and Permanent Rental Housing

750 National Rental Units, 250 Permanent Rental Units, etc.
Long-term Residence Possible with Affordable Rental Conditions
Used as a Housing Ladder for Actual Buyers to Own a Home

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 4th that it has started recruiting tenants for 1,000 public rental housing units in Block AA-5 of Geomdan New Town, Incheon. The housing units being supplied this time consist of 750 national rental housing units, which offer long-term stable residence with low rental deposits and rents, and 250 permanent rental housing units.

The national rental housing units include 200 units of 29㎡, 302 units of 37㎡, and 248 units of 46㎡. For the 37A type, the rental deposit and monthly rent are 26 million KRW and 212,000 KRW respectively, which are affordable compared to the surrounding market prices.

National rental housing is supplied to non-homeowners who are members of households with an average monthly urban worker income of 70% or less (4,368,000 KRW for households of three or fewer), total asset value of 292 million KRW or less, and vehicle value of 34.96 million KRW or less. In particular, Block AA-5 in Geomdan is a specialized complex for newlyweds, with more than 80% of the total allocated units, excluding 28 units of 29B type for housing-vulnerable groups, being preferentially supplied to newlyweds.

The 'priority supply' applicants include existing residents and ① newlyweds (people who are married within 7 years or have children aged 6 or younger), ② prospective newlyweds (people who can prove marriage before moving in), single parents with children aged 6 or younger, elderly people aged 65 or older, persons with disabilities, and national veterans who can apply under 'housing-vulnerable' categories. General supply is preferentially provided to households with an average monthly urban worker income of 50% or less, and if there are remaining units, they are supplied to households with an average monthly income of 70% or less.

Applications by rank will be accepted from the 14th to the 18th, and the list of candidates required to submit documents will be announced on the 24th. After qualification investigation and verification, winners will be announced on September 30, contracts will be signed from October 18 to 21, and move-in is scheduled for November next year.

Since application dates differ by application type such as priority supply, housing-vulnerable, and general supply, applicants must check the application announcement. Applications can be made through the LH Application Center (apply.lh.or.kr) or by installing the 'LH Application Center' app on mobile devices. For elderly people aged 65 or older and others who have difficulty using the internet (PC or mobile), on-site applications will be accepted on designated dates (refer to the tenant announcement).

Additionally, the permanent rental housing consists of 198 units of 26A type and 52 units of 26B (for housing-vulnerable) type. For recipients of livelihood and medical benefits, the rental deposit is 2.56 million KRW and the monthly rent is 51,000 KRW; for other eligible applicants, the deposit is 15.68 million KRW and the monthly rent is 106,000 KRW. Permanent rental housing is supplied to adult non-homeowner household members registered in Incheon as of the announcement date on the 27th of last month, who meet income, asset ownership criteria, and other legal requirements.

Among the 26A type, 15 units for priority supply are available to national veterans and beneficiaries with an average monthly income of 70% or less, and 19 units are available to newlyweds or prospective newlyweds who are non-homeowner household members receiving livelihood or medical benefits. The general supply for 26A type includes 164 units available to recipients of livelihood and medical benefits and single-parent families under protection, as specified in Appendix 3, Article 1 of the Enforcement Rules of the Public Housing Special Act. The 52 units of 26B type are for housing-vulnerable groups such as elderly people aged 65 or older, persons with disabilities, and national veterans.

From the 21st to the 23rd, applications must be submitted in person at the administrative welfare centers of the towns, townships, and neighborhoods within Incheon, not through the LH Application Center. Eligible tenants can check the results on October 8 on the Incheon Metropolitan City website and the LH Application Center. Contracts will be signed from October 26 to 28, and move-in is scheduled for November next year.

The national and permanent rental housing in Block AA-5 of Geomdan, Incheon, is located within the Geomdan land development district in Incheon, adjacent to Gimpo Hangang New Town to the northwest and Cheongna Free Economic Zone to the southwest. It has good accessibility to major metropolitan areas via the Metropolitan Area 1st Ring Expressway, Incheon International Airport Expressway, and National Road No. 48.

An LH official said, "National and permanent rental housing is popular due to its low rent amid the jeonse (long-term lease) crisis," adding, "If eligible, we hope residents will use public rental housing as a stable place to live and a stepping stone to owning their own homes."

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