80% of Market Price, 1821 LH Jeonse-Type Housing Units for Subscription... Available to All Homeless Applicants

Korea Land and Housing Corporation (LH) announced on the 13th that it will supply 1,821 jeonse-type housing units, which anyone without a home can apply for, by significantly relaxing the eligibility criteria starting from the 14th.

Jeonse-type housing is supplied by LH using the houses it owns as jeonse-type units according to the 'Support Measures for Low-income and Middle-class' announced in November 2020. Anyone who is a member of a household without a home can apply regardless of income or assets.

However, if competition arises, priority is given first to recipients of livelihood or medical benefits, and second to those with income below 50% or disabled persons with income below 70%.

The types of jeonse housing supplied this time include 1,018 units of construction rental national and happiness housing, and 803 units of purchased rental housing, mainly located in local areas such as Gangwon and Gyeongnam.

The total rent is set at 80% or less of the market jeonse price, with 80% as the deposit and 20% as the monthly rent.

Residents who find it difficult to prepare a large sum of money at the beginning of moving in can use the deposit conversion system, which lowers the deposit but increases the monthly rent.

If the requirement of being a member of a household without a home is met, residents can live for up to 6 years (4 years basic, with a 2-year extension if there are no waiting applicants).

Applications for subscription are conducted by supply region on the LH subscription center website, and successful applicants can move in immediately after signing the contract in December.

Source: LH

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