SH Corporation Supplies 2,109 Happy Housing Units

[Asia Economy Reporter Hwang Seoyul] Seoul Housing and Communities Corporation (hereinafter SH Corporation) announced on the 20th that it will recruit tenants for 2,109 Happy Housing units. The tenant recruitment announcement will be posted on the SH Corporation website at 2 p.m. on the 21st.

Happy Housing is provided to housing-vulnerable groups such as youth, newlyweds, and the elderly at 60-80% of the surrounding market price. University students and youth can live for up to 6 years, newlyweds with children for up to 10 years, and the elderly for up to 20 years.

This supply targets 273 units in new complexes including reconstruction apartments, 430 remaining vacant units due to existing tenants moving out or contract cancellations, and 1,406 units for prospective tenants. The average deposit and rent by area for this recruitment are as follows: for units up to 29㎡ (exclusive area), a deposit of 63 million KRW and rent of 230,000 KRW; up to 39㎡, a deposit of 115 million KRW and rent of 400,000 KRW; up to 49㎡, a deposit of 134 million KRW and rent of 460,000 KRW; and up to 59㎡, a deposit of 174 million KRW and rent of 620,000 KRW.

From this announcement onward, even those currently residing in Happy Housing can reapply for other Happy Housing units. Considering the frequent moves of university students and youth, the system has been improved to sum the residence periods in each Happy Housing unit and apply the maximum residence period limit by supply target.

Applicants must be members of a household without home ownership as of the recruitment announcement date, the 21st, with a monthly average income of 100% or less of the previous year's urban worker household income by household size, total household assets of 325 million KRW or less, and vehicle value of 35.57 million KRW or less. These criteria may vary depending on the supply target.

Applications can be submitted through the SH Corporation website from the 6th to the 8th of next month. For elderly or disabled persons who have difficulty applying online, in-person applications at the corporation office are available from the 7th to the 8th.

Document screening candidates and successful applicants will be announced on the 21st of next month and November 16th, respectively, with move-in available from January next year. Detailed information can be found at the SH Corporation call center and on the SH Corporation website.

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