Over 300 Apply for 'Yeosu-Style Youth Rental Housing' Recruitment

Published 21 Aug.2024 15:44(KST)

Zero Deposit, 299 Applicants for 17 Spots

Public Lottery for Tenants Selection on August 29 at 2 PM

Yeosu City, Jeollanam-do (Mayor Jeong Gi-myeong) announced on the 21st that a total of 299 applicants, including prospective residents, applied for the 'Yeosu-type Youth Rental Housing' recruited since August 5.

The 'Yeosu-type Youth Rental Housing' support project is a program where Yeosu City provides rental housing with zero deposit to youth and newlyweds who have signed lease contracts. Residents can live for 2 years, and up to 6 years if eligibility is maintained.

[Photo by Yeosu City]

As a result of the recruitment, ▲for prospective residents, 27 applied for 5 openings (competition rate 5.4:1), ▲for Yeosu citizens, 269 applied for 10 openings (competition rate 26.9:1), ▲for priority supply according to the ordinance, 3 applied for 2 first-come-first-served openings, and 1 applicant was given a standby number.

The city plans to select residents for the general supply through a public lottery at 2 p.m. on the 29th at Yeosu Culture Hall and complete the drawing of building and unit numbers.

A city official said, "The number of applications exceeded expectations, reflecting the high popularity and interest in Yeosu-type Youth Rental Housing," and added, "We hope this will be a practical help to youth and newlyweds, and we will expand the program further starting next year."

Meanwhile, the city plans to start the pilot project by supplying 17 units of 'Yeosu-type Youth Rental Housing' this year with a budget of about 1.05 billion KRW and aims to supply 200 units by 2028.