Sancheong-gun Provides Up to 200 Million KRW Low-Interest Loans for Remodeling Old and Poor-Quality Houses

Up to 200 Million KRW Low-Interest Loans for Rural Housing Improvement
30% Reduction in Acquisition Tax, Deductions, and Cadastral Survey Fees

Rural Housing Improvement Project - Exterior View of Farmhouse

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam Province, is promoting a project that provides up to 200 million KRW to support housing-vulnerable groups and those wishing to return to farming or rural living.

Sancheong-gun announced on the 11th that it will implement the "2022 Rural Housing Improvement Project" to create a pleasant rural residential environment and promote population inflow.

The Rural Housing Improvement Project is a system that supports low-interest loans of up to 200 million KRW from lending institutions (Nonghyup) when constructing or renovating a detached house with a total area of 150㎡ or less in rural areas.

The eligible applicants are those who ▲ own and wish to renovate old or poor-quality houses in rural areas ▲ are homeless residents living in rural areas ▲ wish to move from urban areas to rural areas.

Additionally, applicants must be able to dispose of their urban area houses before the loan application date. However, those who own two or more houses while residing in urban areas are not eligible to apply.

If selected, applicants can receive loan support of up to 200 million KRW. The loan can be repaid in installments over 20 years. Also, acquisition tax can be deducted up to 2.8 million KRW, and cadastral survey fees can be reduced by 30%.

The application deadline for the Rural Housing Improvement Project is March 10. Applications can be submitted to the town or township office where the house to be built is located.

A county official said, "The Rural Housing Improvement Project is a program that helps local residents or those wishing to return to farming or rural living who want to build a new house but lack a large sum of money," adding, "We hope this project will contribute to improving the residential environment and creating a pleasant living environment in our Sancheong area."

Meanwhile, Sancheong-gun also implements the "Apartment Management Support Project" every year to ensure safe management of local apartment complexes and create a livable residential environment.

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