Bucheon City Expands Support for Real Estate Brokerage Fees for Low-Income Households... Contracts Under 200 Million Won

Bucheon City Hall

[Asia Economy Reporter Park Hyesook] Bucheon City in Gyeonggi Province announced on the 25th that it will expand the scope of the 'Real Estate Brokerage Fee Support Project,' which has been implemented since 2020 to reduce the financial burden on low-income residents.

The support target includes housing contracts (sale, jeonse, monthly rent) priced at 200 million KRW or less, with brokerage fees fully supported by provincial funds up to a maximum of 300,000 KRW.

The support for brokerage fees applies to transactions from January 1, 2020. However, for contracts in 2020, support is only applied to transactions of 100 million KRW or less, and from 2021 contracts, transactions of 200 million KRW or less are supported. For monthly rent, the amount is calculated as deposit + (monthly rent × 100).

Citizens wishing to receive brokerage fee support should visit the Real Estate Division of Bucheon City Hall with the real estate brokerage fee invoice, sale (lease) contract, certificate of recipient of National Basic Livelihood Security, resident registration certificate, consent form for collection, use, and provision of personal information to third parties, brokerage fee receipt, and a copy of their bankbook.

Gyeonggi Province collects the application documents in bulk at the end of each month, reviews their eligibility, and transfers the support funds to the applicant's account by the 10th of the following month.

A Bucheon City official stated, "This project is being promoted by expanding the beneficiary scope from contracts of 100 million KRW to those of 200 million KRW or less," adding, "We will actively promote this so that low-income citizens can receive more support."

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