30-50% Cheaper Than Studio Apartment Prices... Seoul City to Supply Shared Housing for Single-Person Households

Composed of Residential and Shared Spaces
Targeting University Students, Office Workers, and Seniors
Near Subway Stations, Main Roads, and Medical Facilities
Encouraging Private Sector Participation for Stable Supply
Providing Incentives Such as Zoning Upgrades and Maximum Floor Area Ratio

A shared housing option that residents living alone in Seoul can use at 30-50% lower cost than nearby one-room apartments is being introduced. To ensure stable supply of such housing for single-person households, the Seoul Metropolitan Government will offer private developers benefits such as zoning upgrades, maximum floor area ratio, and tax incentives.

On the 26th, Seoul announced it is beginning the supply process for ‘Ansim Teukjip,’ a shared housing project for single-person households. The city stated, "Considering the increasing number of single-person households, we recognized the need for a new housing type beyond family units and have been preparing shared housing. The advantage is that residents can live stably for a long time without owning a home, and by sharing kitchens, laundry rooms, and other facilities, they can enjoy more spacious and comfortable living environments."

Shared housing is broadly divided into private living spaces and shared spaces for community activities. The private living spaces are designed to be at least 12㎡, which is 20% larger than the legal minimum area for rental dormitories (9.5㎡ or more). With ceiling heights of 2.4m or higher and widths of at least 1.5m, the design provides a sense of openness. To reduce noise between floors and walls, floor impact sound insulation and boundary wall structures between units are applied.

The shared spaces consist of four types: ▲basic living spaces such as kitchen, dining room, laundry room, and exercise facilities ▲life support facilities such as parcel storage and resident support centers ▲community spaces such as small libraries and meeting rooms ▲specialized spaces such as game zones, pet shower rooms, and performance halls. The minimum area per person is set at 6㎡, which is 50% higher than the legal standard of 4㎡. For example, if 150 private living units are operated, 900㎡ of shared space will be installed.

Rent for private living spaces and basic shared spaces (basic living spaces, life support facilities, community spaces) will be set at 50-70% of the market rate for nearby one-room apartments. Fees for specialized spaces will be charged based on usage according to residents’ choices and returned as profits to the developers. According to the city, this approach simultaneously reduces residents’ housing costs and ensures business viability. Additionally, to ensure safe management of rental deposits, registration of rental businesses as ‘housing rental management businesses’ will be mandatory.

The target residents include various single-person households such as university students, office workers, and seniors. Considering this, locations near transit stations (within 350m), main roads (within 50m), and medical facilities (within 350m of hospitals) will be selected. Residents aged 19-39 can live up to 6 years, while middle-aged and older residents aged 40 and above can stay for up to 10 years.

The city will encourage active participation from private developers by providing incentives to supply shared housing quickly and stably. First, zoning upgrades and application of the maximum legal floor area ratio will be implemented. For example, the current ‘Category 2 General Residential Area’ with a 200% floor area ratio will be upgraded to a ‘Quasi-Residential Area,’ allowing a maximum floor area ratio of up to 500%. Additionally, integrated reviews will ensure faster project approval, improving business feasibility. To provide swift project support to developers and stable private rental housing supply to residents, the target areas will be designated as ‘Supply Promotion Districts.’

Tax benefits will also be provided. The city has proposed amendments to the ‘Local Tax Special Cases Act’ to the Ministry of the Interior and Safety to allow reductions in capital gains tax, exclusion from comprehensive real estate tax aggregation, and reductions in acquisition and property taxes. The city plans to start public calls for target sites and establish operational standards, complete administrative procedures in the second half of this year, and begin full-scale project implementation.

Han Byung-yong, Director of the Seoul Housing Policy Office, said, "By 2030, it is expected that 2 out of every 5 households in Seoul will be single-person households, so it is time to prepare housing support measures for them. We will rapidly supply shared housing that offers the ‘three essentials’ of good location, space, and rent to support stable housing for single-person households."

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