Gyeongbuk Development Corporation to Supply 50 Rental Houses for Newlyweds and Newborns... Rent 30-40% of Market Price
Gyeongbuk Development Corporation (President Lee Jae-hyuk) announced on the 24th that it will supply 50 purchase rental housing units for newlywed couples and households with newborns without homes. The public rental housing supplied this time will be offered at affordable rents at about 30-40% of the surrounding market price, and the supply locations are four areas: Gyeongsan, Gumi, Gyeongju, and Chilgok.
The purchase rental housing for newlyweds and newborns targeted for supply this time grants priority residency qualifications to ‘households with newborns born within 2 years’ and ‘eligible single-parent families.’ In addition, newlywed couples, prospective newlyweds, and single-parent families (married households) with children under 6 years old are included in the eligibility criteria, and applications are possible if they are ‘members of a non-homeowning household who meet certain income and asset requirements.’ The initial lease period is 2 years, and if eligibility requirements are met, residents can renew the contract and live for up to 20 years.
Detailed information regarding the application for residency can be found in the announcement on the rental notice board on the Gyeongbuk Development Corporation website. The application document submission period is from January 13 to January 22, 2025, and documents must be submitted by registered mail within the submission deadline.
The public rental housing supplied this time includes newly built purchase rental housing in Gyeongju, Chilgok, and Gyeongsan. These newly built purchase rental houses have an average exclusive area of 55㎡, providing a larger space than before so that newlywed couples and households with newborns can establish their homes in a comfortable living environment.
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Lee Jae-hyuk, President of Gyeongbuk Development Corporation, said, “We are supplying rental housing at affordable rents to alleviate the housing cost burden for residents, and we paid great attention to site selection to enable maintaining urban living areas. We are confident that residents can live in a pleasant environment, so we ask for many applications from residents.”
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