Busan City Begins Move-in for First Hope Deoham Apartment

From the 28th... 276 Households, Young People Move In First

Priority Supply for University Students, Early Career Workers, and Newlyweds

The first project of the ‘Busan Hope Deoham Apartment,’ ‘Yeseo Dureaum’ (Yeonsan-dong, 276 households), will begin move-in starting from the 28th.

The first project of 'Busan Hope Deoham Apartment,' 'Yeseo Dureaum' (Yeonsan-dong, 276 households).

The ‘Busan Hope Deoham Apartment’ project is a campaign promise of the 8th mayoral administration aimed at ensuring housing stability for the youth by providing high-quality, affordable private rental housing to young people who will lead Busan’s future, through relaxed building regulations within transit-oriented areas with convenient public transportation access.

Busan City is promoting youth housing policies to realize the value of the 15-minute city, a core policy of the city, by mandating the installation of community facilities so that young people can conveniently live and work.

Additionally, to supply high-quality rental housing at prices lower than the surrounding market to young people in transit-oriented commercial areas, the city is providing significant building regulation relaxations and administrative support to project developers, including floor area ratio relief and exemption from building height restrictions.

The first project to move in, ‘Yeseo Dureaum,’ which began construction in June 2020, faced various construction setbacks such as COVID-19 and soaring raw material costs, causing construction expenses to rise sharply beyond initial estimates. However, ‘Eunyoung’ decided to proceed with move-in without increasing the deposit on a magnanimous basis, enabling move-in on April 28.

Mayor Park Hyung-jun said, “I congratulate the move-in of the first Hope Deoham Apartment and will continue to vigorously promote solid housing policies to revitalize the supply of youth housing so that Busan becomes a city where young people want to return.”

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