LH to Supply 184,000 Housing Units This Year, Including 150,000 Public Housing Units

Recruitment of 25,000 Public Sale Units, 35,000 Construction Rental Units, and 64,000 Purchase/Jeonse Units
Implementation of 26,000 Public Pre-Subscription Units and Supply of 34,000 Public Land Units for Private Pre-Subscription
Continued Expansion of Housing Supply in 3rd New Towns and Establishment of Mid- to Long-Term Housing Supply Foundation

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 24th that it will supply a total of 184,000 housing units this year, including 150,000 public housing units. The total number of new housing units LH will supply this year is 124,000, which is about 6,000 units more than the average annual new supply of 118,000 units over the past five years.

A total of 25,000 public sale housing units will be supplied, and the main sales for eight complexes, including Seongnam Bokjeong, where preliminary subscription was conducted last year, will also be implemented.

A total of 35,000 rental housing units for low-income households without homes are planned to be supplied. Among these, a total of 5,000 units, including 2,000 rental units in the Newlywed Hope Town, will be supplied about one year earlier than the original schedule due to efforts to secure early supply quantities.

For purchased rental housing such as youth, dormitory, newlywed couples, and public jeonse, a total of 30,000 units will be supplied. Starting this year, LH will announce tenant recruitment for each purchased rental housing unit directly recruited and selected by LH, and this will be implemented quarterly. In particular, 4,000 of these units will be supplied as public jeonse housing for middle-income households without homes, leased for up to six years, and 3,000 units, half of the supply, will be supplied in the metropolitan area, expected to contribute to stabilizing the metropolitan jeonse market.

A total of 34,000 jeonse rental housing units will be supplied. In December last year, supply of jeonse rental housing available for move-in this year was conducted for the general population, and since March this year, applications and registrations have been accepted on an ongoing basis for youth and newlywed couples. The supply plan may change depending on the progress of construction work and demand.

Additionally, LH plans to conduct preliminary subscription for a total of 26,000 units, which is 81% of the public preliminary subscription supply this year, and to sell public land developed by LH (equivalent to 34,000 units) to the private sector under preliminary subscription conditions.

Furthermore, LH aims to promptly complete the compensation procedures for the 3rd New Towns, start development construction, and advance the timing of housing supply and move-in as much as possible. Currently, compensation is actively underway in four out of the five 3rd New Town sites, and compensation for the Goyang Changneung district is scheduled to begin in May. Also, to expand mid- to long-term housing supply, projects are underway aiming to designate districts and establish maintenance plans this year for 13 public housing districts and 42 urban public housing complex business districts.

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