GH Launches 'Existing Housing and Contract-Type' Purchase Lease Project for Housing-Vulnerable Groups

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) is implementing the 'Existing Housing Purchase Rental Project' and the 'Contract-type Purchase Rental Project' targeting vulnerable groups in the province. GH will purchase existing houses such as multi-family houses and contract-type houses necessary for these projects.

The Existing Housing Purchase Rental Project involves GH purchasing houses that have completed occupancy approval, renovating them, and renting them out at 30-50% of the market price to livelihood and medical benefit recipients, single-parent families, people with disabilities, youth, and others.

The Contract-type Purchase Rental Project selects houses planned for construction at the stage before building permits or project approval, signs contracts during the project planning phase, and purchases the houses once completed by applying GH's design and quality standards.

Because GH participates in the project from the early construction stage upon signing the purchase contract for contract-type purchase rental houses, it can supply high-quality housing. GH supplies these houses as ▲Youth Startup Support Housing ▲General Rental Housing ▲Youth Rental Housing. Youth Startup Support Housing is a live-work integrated housing supplied to young entrepreneurs or prospective entrepreneurs.

The target houses for existing housing purchase include multi-family houses with exclusive area per household of 85㎡ or less, apartment-type housing (multi-family, row houses, urban lifestyle housing), and residential officetels with exclusive area per unit of 40㎡ or less.

GH comprehensively considers location conditions such as accessibility to public transportation and rental feasibility, and selects houses for purchase through document and on-site inspections and purchase reviews.

Applications for the contract-type purchase rental project are accepted by visit or registered mail until the 15th of next month. Applications for the existing housing purchase rental project are accepted only by registered mail until July 29.

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