80% Market Price, 939 Jeonse Units Supplied in Seoul and Gyeonggi... Anyone Without a Home Can Apply

Korea Land and Housing Corporation (LH) announced that it will begin accepting applications on the 31st for 939 jeonse-type rental housing units available to any member of a household without homeownership.

Jeonse-type housing is rental housing where the rent is set at up to 80% of the deposit, which is capped at 80% or less of the market jeonse price, thereby reducing the monthly rent burden for tenants.

If the applicant meets the criteria of being a member of a household without homeownership, they can reside for up to 6 years (a basic 4 years, with a possible 2-year extension if there are no waiting applicants).

The 939 units supplied this time consist of △399 units of construction rental housing (National, Happiness) and △540 units of purchased rental housing, located in Seoul and Gyeonggi areas.

Applications can be submitted on the LH Application Center website starting Monday, October 31, by supply region, and successful applicants can move in from March next year after signing the contract.

In case of competition, winners are selected based on income level ranking, and if there is a tie in ranking, the selection is made by computerized lottery results.

For detailed information such as application period, housing location, and rental conditions, please refer to the regional resident recruitment announcements posted on the LH Application Center or contact the LH call center.

If it is difficult to prepare a lump sum deposit, applicants can use the deposit conversion system, which lowers the deposit and increases the monthly rent.

An LH official stated, "Jeonse-type housing can be helpful for those feeling burdened by recent increases in jeonse loan interest rates," adding, "We will do our best to ensure stable housing for the public."

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