SH Corporation Supplies 963 Units of Seoul REITs Happy Housing

[Asia Economy Reporter Kim Hyemin] Seoul Housing and Communities Corporation (SH Corporation) announced on the 22nd that it will recruit tenants for 963 Happy Housing units owned by Seoul REITs over three days starting from the 4th of next month.

Happy Housing provides housing to university students, youth, newlyweds, and the elderly at 60-80% of the surrounding market price. The tenant recruitment announcement can be checked from the 23rd.

This supply of Happy Housing units targets 207 remaining vacant units due to previous tenants' move-outs and contract cancellations, as well as 756 units for prospective tenants. Even for the same area, the price varies depending on the eligible tenant category. The average deposit and rent by area are as follows: for units up to 29㎡, the deposit is 66.7 million KRW with a rent of 230,000 KRW; for units up to 39㎡, the deposit is 122.6 million KRW with a rent of 430,000 KRW; and for units up to 49㎡, the deposit is 170.3 million KRW with a rent of 600,000 KRW.

The maximum residence period is 6 years for youth, 10 years for newlyweds with children, and 20 years for the elderly and recipients of housing benefits.

Applicants must be members of a household without homeownership as of the tenant recruitment announcement date, have a monthly average household income of 100% or less of the previous year's average, total household assets of 325 million KRW or less, and the value of household-owned vehicles must be 35.57 million KRW or less.

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