LH Begins Application for 2,800 Youth and Newlywed Purchase Rental Housing Units Starting from the 6th

Supply of 2,814 Units Nationwide Including 1,358 in the Seoul Metropolitan Area for Youth and Newlyweds
Youth Rent at 40-50% of Market Price, Newlyweds and Newborn Type I at 30-40% Rent
Applications Open from the 6th via LH Subscription Plus, Preliminary Tenants Announced in March

Seoul Walking Column - A residential complex in downtown Seoul where apartments and houses coexist. Photo by Yongjun Cho jun21@

Korea Land and Housing Corporation (LH) announced that from the 6th, it will begin accepting applications for purchase rental housing for young people without homes, newlyweds, middle-class, and low-income groups. The purchase rental project is a system where LH purchases newly built and existing houses with good transportation access in urban areas, enabling proximity to workplaces, and rents them out at affordable prices.

Through this announcement, LH will supply a total of 2,814 households nationwide. By type, there are 1,275 youth purchase rental houses and 1,539 newlywed and newborn purchase rental houses.

The ‘Youth Purchase Rental Housing’ is supplied to young people aged 19 to 39, university students, and job seekers. By region, 656 households are in the metropolitan area including Seoul, Gyeonggi, and Incheon, and 619 households are in other regions. The rental conditions are about 40-50% of the nearby market price. Residents can live for up to 10 years (20 years if married after moving in). Reflecting the demand of young people who frequently move due to study or employment, appliances such as refrigerators, washing machines, and air conditioners will be provided depending on the housing conditions.

The ‘Newlywed and Newborn Purchase Rental Housing’ is supplied to newlywed couples within 7 years of marriage (including prospective newlyweds) and households with newborns. By region, 702 households are in the metropolitan area including Seoul, Gyeonggi, and Incheon, and 837 households are in other regions. They are classified into Newlywed and Newborn Types I and II according to income and asset criteria.

Newborn households refer to those with children born within the last 2 years from the date of the tenant recruitment announcement (including fetuses confirmed by pregnancy certificates and adoptees born within 2 years). ‘Newlywed and Newborn I Purchase Rental Housing’ is a type supplied at about 30-40% of market price for multi-family and multi-unit houses, allowing residence for up to 20 years. ‘Newlywed and Newborn II Purchase Rental Housing’ is a quasi-jeonse type (80% deposit of rental conditions, 20% monthly rent) supplied for apartments and officetels at about 70-80% of market price, reducing rental burden. Residents can live for up to 10 years (14 years if there are children).

An LH official stated, "From this announcement, the income and asset criteria for the ‘Newlywed and Newborn II Type’ have been relaxed, strengthening support for middle-class newlywed and newborn households."

Applications will be accepted for three days from the 6th to the 8th, and the candidates for document screening will be announced in January. After verifying eligibility such as income and assets, preliminary tenants will be announced in March. Detailed information can be found in the announcement posted on 'LH Subscription Plus,' and telephone consultations are also available through the LH call center.

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