LH to Supply 935 Public Jeonse Housing Units Priced Below 90% of Market Value

Korea Land and Housing Corporation (LH) announced on the 27th that it will recruit tenants for 935 units of the first public jeonse housing in 2023. The supply areas include 610 units in the Seoul metropolitan area, including Seoul, Gyeonggi, and Incheon, and 325 units in other regions.

Public jeonse housing is public rental housing where LH purchases newly built multi-family houses, row houses, officetels, and apartments and rents them at prices below 90% of the market price. Tenants can live for up to six years without monthly rent by paying only the deposit.

A public rental housing in Jungnang-gu, Seoul. [Photo by LH]

Anyone who is a member of a household without a home as of the recruitment announcement date can apply for public jeonse housing. There are no separate income or asset criteria. Households with three or more members apply as first priority, and those with two or fewer members apply as second priority.

However, applicants can only apply within the recruitment area where their registered residence is located according to their resident registration certificate. One household can apply for only one house. Applications outside the residence area or duplicate applications will be invalidated.

The announcement of successful applicants will be made after mid-June, and after verifying eligibility and signing contracts, tenants can move in after July.

Ha Seung-ho, Head of LH National Housing Welfare Headquarters, said, “We hope LH public jeonse housing will be a great help to low-income households without homes who are worried about housing due to interest rate hikes,” adding, “LH will continue to make every effort to stabilize the housing of the people through continuous housing supply.”

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