GH Accepts Sale Applications for Multi-Family Houses, etc. to Purchase Existing Homes for Rental

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) is starting to purchase multi-family houses and other properties for its existing housing purchase and rental project.

GH announced on the 14th that it began purchasing multi-family houses and other properties from the 13th to stabilize housing for low-income and youth groups in the province.

The target properties for purchase are multi-family houses and apartment-type housing (multi-unit houses, row houses, urban lifestyle housing) with exclusive area per unit between 14㎡ and 85㎡, as well as residential officetels.

The selection criteria for purchase include location conditions such as accessibility to public transportation, housing quality document review and on-site inspection regarding building age and maintenance status, and purchase review processes.

The purchase price is calculated as the arithmetic average of the amounts appraised by two appraisal institutions. One appraisal institution is recommended by the seller to ensure fairness in price determination.

Applications must be submitted by registered mail by the 8th of next month. For more details, please refer to the GH website.

The existing housing purchase and rental project is a program where GH purchases houses, renovates them, and rents them at 30% to 50% of market price to low-income, homeless citizens such as livelihood and medical benefit recipients, single-parent families, disabled persons, and youth.

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