Busan Urban Corporation to Recruit 469 Tenants for Youth Purchase-Lease Housing

130 Units Supplied in 10 Districts Including Busanjingu

First Priority: 10-11th, Second and Third Priority: 21-22nd

Busan Metropolitan Corporation (BMC) announced on the 4th that it is recruiting tenants (including preliminary tenants) for 130 units of youth purchase rental housing to promote housing stability for young people.

Youth purchase rental housing refers to homes such as multi-family houses, multiplex houses, and officetels that BMC acquires and rents out to young people at rates lower than the market price.

The homes being supplied this time are located in areas with excellent transportation accessibility, such as near subway stations and university districts, taking into account the residential characteristics of young people who often move due to studies or employment. Depending on the housing conditions, amenities such as washing machines and air conditioners are also provided.

Eligibility is limited to unmarried young people without a home (aged 19 to 39) who meet income and asset requirements according to priority. Rental rates are set at 40-50% of the surrounding market price, and tenants may reside for up to 10 years if they meet the conditions for contract renewal.

The application period for first priority is October 10-11, and for second and third priority, it is October 21-22, through the BMC Subscription Center. Detailed eligibility criteria and application procedures can be found in the announcement posted on the Busan Metropolitan Corporation website. The results will be announced in November for first priority, and in January 2025 for second and third priority. After confirming the housing, contracts can be signed and tenants can move in.

BMC is striving to enhance resident satisfaction by providing a pleasant living environment through prompt maintenance and repair of purchase rental housing and implementing green remodeling projects to improve the energy efficiency of aging homes.

Kim Yonghak, CEO of Busan Metropolitan Corporation, said, "We hope that the corporation's purchase rental housing will become a reliable housing ladder for young people in Busan," and added, "We will do our best to purchase and supply high-quality homes in the city center that meet the needs of young people to ensure their housing stability."

Busan Urban Corporation

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