LH Announces Tenant Recruitment for 1,000 National and Permanent Rental Units in Hwaseong Namyang New Town

Supply of 1,778 Units in Large Complex: 796 National Rental, 286 Permanent Rental
National Rental Applications Accepted July 5-14, Permanent Rental Applications July 5-9

Namyang New Town B-10 Block Bird's-eye View / Provided by LH.

[Asia Economy Reporter Jo Gang-wook] Korea Land and Housing Corporation (LH) announced on the 29th that it will open applications next month on the 5th for 796 national rental housing units and 286 permanent rental housing units in Block B-10 of Hwaseong Namyang New Town.

The national rental housing units supplied this time consist of a total of 796 units with exclusive areas of 29㎡ (240 units), 37㎡ (280 units), and 46㎡ (276 units). By supply type, 201 units are for general supply, and 595 units are for priority supply such as newlyweds.

The rental conditions for the 37㎡ type are a rental deposit of 26 million KRW and a monthly rent of 207,000 KRW, which is very affordable at 40% to 60% of the surrounding market price. By using the conversion deposit system to raise the rental deposit to 50 million KRW, the monthly rent can be reduced significantly to 87,000 KRW, greatly lowering the rental burden.

The national rental housing in Hwaseong Namyang New Town Block B-10 is available to applicants who, as of the resident recruitment announcement date on the 23rd, are members of a household without a home, with a monthly average income of 70% or less of the urban worker household standard (90% for single-person households, 80% for two-person households), total asset value of 292 million KRW or less, and vehicle value of 34.96 million KRW or less.

Among the general supply, priority is given to households with a monthly average income of 50% or less of the urban worker household standard, and if there are remaining units, they are supplied to households with a monthly average income of 70% or less. In case of competition, the first priority is residents of Hwaseong City, the second priority is residents of Ansan, Suwon, Yongin, Osan, and Pyeongtaek cities, and the residents are selected by adding scores based on the number of minor children, applicant's age, and number of dependents.

Priority supply is available to (prospective) newlyweds, multi-child families, persons with disabilities, etc., and eligibility for priority supply must be confirmed in the resident recruitment announcement.

The supply schedule is as follows: △ Application submission (July 5?14) △ Announcement of document submission candidates (July 20) △ Document submission (July 22?29) △ Announcement of successful applicants (October 8) △ Contract signing (October 19?22), with move-in scheduled for October next year.

The permanent rental housing consists of 286 units of exclusive area 26A/B㎡ types, with 112 units for general supply (26A), 28 units for priority supply such as newlyweds (26A), and 146 units for housing vulnerable groups (26B). Rental conditions for livelihood and medical benefit recipients are a rental deposit of 2.59 million KRW and a monthly rent of 51,000 KRW, while other eligible applicants have a deposit of 19.77 million KRW and a monthly rent of 106,000 KRW.

Eligibility for application requires that, as of the resident recruitment announcement date on the 23rd, the applicant is a registered adult resident of Hwaseong City without home ownership, meeting income and asset criteria and other legal requirements. Among the 28 priority supply units of type 26A, 14 units are for national veterans and beneficiaries with a monthly average income of 70% or less, and 14 units are for (prospective) newlyweds who are livelihood or medical benefit recipients without home ownership. The 112 general supply units of type 26A are available to livelihood and medical benefit recipients and single-parent families under protection as specified in Appendix 3, Item 1 of the Public Housing Special Act Enforcement Rules. The 146 units of type 26B are for housing vulnerable groups such as seniors aged 65 or older, persons with disabilities, and national veterans.

Applications must be submitted in person at the administrative welfare centers of the towns, townships, or neighborhoods within Hwaseong City from July 5 to 9. Successful applicants and unit assignments can be checked at the LH Application Center on October 8, with contract signing from October 19 to 22 and move-in scheduled for October next year.

Hwaseong Namyang New Town Block B-10 is a new residential area located in the western part of Hwaseong City, offering convenient living with Hwaseong City Hall, Namyang Library, and other amenities nearby, as well as excellent educational environments with elementary, middle, and high schools located within the district.

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