Chungnam Province to Supply 5,000 Units of 'Sale Conversion Apartments' in 2026

Chungnam Province will supply 5,000 apartment units for sale conversion by 2026. These apartments offer the advantage of being able to purchase the housing at the original sale price after living there for six years with rent set below the market price.

On the 26th, Chungnam Province announced that it will promote the ‘Chungnam-type Urban Live Together’ project with these details. The project aims to provide housing stability and opportunities to secure homes for local homeless newlyweds, youth, single-parent families, and families with three or more children.

The sale conversion apartments will be supplied in Naepo New Town (Hongseong), Cheonan Jiksan, and Asan Tangjeong areas. The supply area for all housing units is uniformly 84㎡ (formerly 34 pyeong).

Chungnam Province has set the apartment move-in deposit at 160 million KRW. Residents can receive a loan for 80% of the full deposit at an interest rate of 1.7%. The rent is formed at around 180,000 KRW per month, which is cheaper than the surrounding market price.

In particular, residents can purchase the housing they lived in at the price confirmed at the time of the resident recruitment announcement after six years of residence.

For example, if the sale price set at the time of resident recruitment was 400 million KRW and the apartment market price rises to 500 million KRW after six years, the actual purchase price will be fixed at 400 million KRW.

Chungnam Province will break ground within the year for the construction of sale conversion apartments in Naepo New Town. The apartments to be supplied in Naepo New Town will consist of 949 units, located on a 68,271㎡ site near Hanul Elementary School in Hongbuk-eup.

The project cost is 380 billion KRW, covered by Chungnam Province’s investment funds, public funds, and rental deposits.

Meanwhile, on the 26th, Chungnam Province signed an agreement with LH President Lee Han-jun to mutually cooperate in promoting the ‘Chungnam-type Urban Live Together Project.’

According to the agreement, Chungnam Province will handle supply contract signing and payment for the project sites and provide administrative support for LH’s projects within the province. LH will cooperate in securing the first project site in Naepo New Town and timely supply of project sites for the Chungnam-type Live Together project.

Both organizations will also consider establishing and operating a working-level consultative body to ensure smooth implementation of the agreement.

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