SH, Long-Term Jeonse Housing Subscription Competition Rate 10.8 to 1

[Asia Economy Reporter Kim Min-young] Seoul Housing and Communities Corporation (SH Corporation) announced that the final subscription competition rate for the "40th Long-term Jeonse Housing Tenant Recruitment (1,900 units)" announced last August reached 10.8 to 1, with 20,571 applicants.

Long-term Jeonse housing refers to public rental housing where Seoul citizens can live at a rent level below 80% of the surrounding market price. The Jeonse price for this recruitment announcement was set at within 65% of the surrounding market price, considering the recent sharp rise in Jeonse prices in Seoul to contribute to housing stability for low-income residents.

SH Corporation received subscription applications for 1,900 units newly supplied, including Gangdong Lien Park 13 Complex and Boramae Xi, from September 15 to 27.

Among them, Boramae Xi (general, 84㎡) attracted 2,157 applicants for 21 units, recording a competition rate of 102.7 to 1. Following Boramae Xi (general, 84㎡), Suseo-dong (721-135㎡) recorded 74.4 to 1, and Yangjae-dong 212 (114㎡) recorded 73.2 to 1, showing high competition rates.

The final competition rates by complex can be checked on the SH Corporation website.

Based on the applicants' subscription details, SH Corporation plans to select document screening candidates within the range of 150% to 300% of the supply units and announce them on the 14th of this month. The final winners will be announced on February 15 next year, and move-in will begin in March of the same year.

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