Gyeongbuk Development Corporation Announces Tenant Recruitment for 29 Purchased Rental Houses in Gumi and Gyeongsan

Rental Price Market Rate 30~50%

Gyeongbuk Development Corporation is recruiting tenants for 29 purchased rental houses to stabilize housing for young people and newlyweds.

Purchased rental houses are homes such as multi-family and multi-unit houses that have been purchased and renovated, then supplied at rents lower than market prices. These houses were purchased last year by Gyeongbuk Development Corporation, and they are looking for tenants for 29 houses located in Gumi and Gyeongsan.

Gyeongbuk Development Corporation.

The locations are near downtown and universities, supplied at affordable rental conditions at 30-50% of the surrounding market prices so that young people and newlyweds can live stably in their desired living areas.

Depending on the type of tenancy, residents can live for up to 6 to 20 years, with priority given to youth aging out of care, youth leaving shelters, young recipients of social benefits, single-parent families, and (prospective) newlywed couples with children.

The recruitment targets are 17 households of young people and 12 households of newlywed couples. Eligibility requires being a young person without a home or a newlywed couple who is a member of a household without a home, meeting certain income and asset requirements. The application period is from April 6 to 12, and applications can be submitted by registered mail or in person.

Gyeongbuk Development Corporation announced that starting this year, it will brand its public housing as ‘Ondanche’ and supply 2,000 units by 2026, including 200 Happy Houses, 1,000 purchased rental houses, and 800 public rental houses.

Last year, Gyeongbuk Development Corporation implemented its first purchased rental housing project, prioritizing the purchase of 150 existing houses in Gumi and Gyeongsan, areas with a high youth population.

This year, it plans to purchase 200 newly built and existing houses in Pohang, Gyeongju, Chilgok, and other areas, and by 2026, it aims to purchase 1,000 houses to continuously supply housing for vulnerable groups such as young people.

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