LH Gwangju Jeonnam Headquarters, Existing Home Purchase Applications Open Until October

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Korea Land and Housing Corporation Gwangju Jeonnam Regional Headquarters (Head Lee Jae-ro) will accept applications for the sale of existing houses for the purchase rental business until October.

This project involves LH purchasing and repairing existing houses to rent them at about 30% of the market rent to support housing for low-income groups in urban areas and to reduce housing cost burdens for young people and newlyweds.

Since March, LH Gwangju Jeonnam Headquarters has been promoting this project with the goal of purchasing a total of 1,000 houses this year in regions including Gwangju Metropolitan City, Yeosu City, Suncheon City, and Gwangyang City.

The houses eligible for purchase are limited to multi-family houses or apartment houses (multi-unit houses, row houses, urban lifestyle houses) approved for use after January 1, 2011, and houses that can be purchased by building unit.

However, houses with dryvit construction, houses with basement (including semi-basement) units, houses with fewer than five units per building, and houses with mechanical parking systems are excluded.

The submitted houses will undergo an on-site survey in November, and the selection of target houses will be determined based on purchase criteria such as house condition and location requirements.

Afterwards, the purchase price will be set through an appraisal, and if the seller agrees to the purchase price and conditions, a sales contract is expected to be signed around December.

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