GH to Supply 3,666 Units of Existing Housing Jeonse and Purchase Rental

Current Status of GH's Supply of Jeonse Rental and Purchased Rental Housing for Existing Homes

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Housing and Urban Corporation (GH) will supply 3,666 units of existing housing for jeonse lease and purchase lease housing to stabilize housing for vulnerable groups.

Jeonse lease housing is housing where GH signs a jeonse contract with the owner of the house that the tenant will live in and then subleases it to the tenant. Purchase lease housing refers to existing houses such as multi-family, multiplex, and officetels that are purchased, renovated, and supplied at rents lower than the market price.

Jeonse lease housing will be supplied with 3,000 units across 31 cities and counties in the province. Eligible houses include detached houses, multiplexes, multi-family houses, row houses, apartments, and residential officetels with a national housing standard size of 85㎡ or less.

The support limit per household is 130 million KRW, and excluding the tenant's burden of 5%, up to 123.5 million KRW can be supported as jeonse deposit.

The tenant pays 5% of the jeonse deposit within the support limit as a rental deposit, and the monthly rent is calculated by applying an annual interest rate of 1-2% to the amount of the rental deposit minus the tenant's burden.

The rent interest rate can be reduced by up to 0.5 percentage points depending on the number of minor children. Livelihood and medical benefit recipients receive a preferential interest rate of 0.2 percentage points.

Purchase lease housing will supply 666 units in 12 cities and counties including Gapyeong-gun in the province.

In particular, reflecting various housing needs per household, 257 units for 1-2 person households (exclusive area 50㎡ or less), 404 units for 3-4 person households (exclusive area 50-85㎡ or less), and 5 units for households of 4 or more persons (exclusive area over 85㎡) will be supplied.

Eligibility for application includes non-homeowning household members residing in the project target cities and counties who meet the qualifications specified in the announcement, such as livelihood and medical benefit recipients, single-parent families, low-income elderly (65 years or older), persons with disabilities with monthly average income below 100%, and persons with monthly average income below 50%.

The initial lease period is 2 years, and if eligibility requirements are met, residence can be extended up to a maximum of 20 years.

Applications for jeonse lease can be submitted from the 20th to the 24th, and for purchase lease from the 22nd to the 28th, at the administrative welfare centers (eup, myeon, dong offices) of the applicant’s registered residence.

For more details, please check the Gyeonggi Housing and Urban Corporation website.

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