Gyeonggi-do to Supply 1,131 Social Housing Units This Year

Gyeonggi Province will supply 1,131 social housing units this year.

Social housing is a type of rental housing supplied or operated by social economy entities for the purpose of realizing social values for the homeless.

Gyeonggi Province expects to achieve effects such as guaranteeing stable residence periods for tenants by supplying long-term rental housing to the homeless and revitalizing communities led by social economy entities.

This year, Gyeonggi Province plans to supply social housing consisting of 100 specialized purchase rental housing units and 72 contracted purchase rental housing units through Gyeonggi Housing & Urban Corporation (GH), and 959 specialized purchase rental housing units through Korea Land & Housing Corporation (LH).

Specialized purchase rental housing is a project where private entities such as social economy entities (non-profit corporations, public interest corporations, social cooperatives, etc.) propose spaces and services tailored to tenant characteristics, then after construction, the public sector purchases the property and grants the proposer the rights to select tenants and operate rentals.

Gyeonggi Provincial Government

Rental operation rights holders such as social economy entities provide differentiated housing services by supporting programs that enable various community activities for tenants.

Gyeonggi Province and GH will recruit social housing operators to whom rental housing operation rights will be granted in the second half of this year, and will proceed with the submission of business proposals and purchase review procedures.

In particular, the two organizations are reviewing improvements to the "building purchase price calculation method" to increase the participation rate of social economy entities and the contract rate of purchase agreements, and plan to finalize it before the business announcement this year.

Lee Eun-seon, Director of the Housing Policy Division of Gyeonggi Province, said, "Since social housing is a housing model essential for realizing social values such as restoring residential communities, we plan to continuously explore various business promotion plans to revitalize social housing, including the supply of social housing and activation of public rental housing communities."

Meanwhile, Gyeonggi Province has been promoting community revitalization using social economy entities since last year for three existing public rental housing complexes (3,000 households) of GH.

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