From the 22nd, Recruitment of 3rd Tenants for 'Purchased Rental Housing' Targeting Youth and Newlyweds

[Asia Economy Reporter Kim Min-young] The Ministry of Land, Infrastructure and Transport announced on the 21st that from the 22nd, it will recruit the 3rd round of tenants for youth and newlywed purchase rental housing in 16 cities and provinces nationwide.

This year, the scale of tenants for youth and newlywed purchase rental housing is about 20,000 units, and the 3rd recruitment this time is a total of 4,630 units, with 2,119 units for youth and 2,511 units for newlyweds. Youth and newlywed applicants who apply for housing this time can move in as early as the end of December after qualification verification.

Youth purchase rental housing is supplied as full-option equipped with air conditioners, refrigerators, washing machines, etc., considering the housing characteristics of youth who move frequently for job preparation and proximity to work, and can live for up to 6 years at a low rent of about 40-50% of the market price. The move-in order is determined according to income level for unmarried youth (ages 19-39) without housing.

Newlywed purchase rental housing is supplied in two types: ◆ Type I (1,541 units), where residents can live in multi-family houses, etc., at 30-40% of the market price, and ◆ Type II (970 units), where residents can live in apartments, officetels, etc., at 60-80% of the market price.

Newlywed purchase rental housing is available not only to newlyweds and prospective newlyweds within 7 years of marriage but also to households raising children under 6 years old and general married households (Newlywed II).

In particular, in this recruitment, to alleviate the jeonse (key money deposit) crisis, the rental deposit conversion rate for youth and newlywed purchase rental housing recruited by Korea Land and Housing Corporation (3,310 units) and newlywed purchase rental housing recruited by Seoul Housing and Communities Corporation (350 units) has been expanded from the current 60% to up to 80%.

Youth (2,018 units) and newlywed (1,292 units) purchase rental housing recruited by Korea Land and Housing Corporation can be checked through the announcement posted on the Korea Land and Housing Corporation subscription center website after the 22nd, and telephone consultation is also available through the LH call center.

Additionally, detailed tenant qualifications for youth and newlywed purchase rental housing (1,320 units) recruited by Seoul Housing and Communities Corporation, Gyeonggi Housing and Communities Corporation, Daejeon Urban Corporation, and Jeju Special Self-Governing Province Development Corporation can be found in the announcements posted on the respective organizations' websites (see attachment).

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