Seoul City to Support Home Repairs for Aging Houses in Hwagok 2-dong, Gangseo-gu

Over 60% of Homes Over 20 Years Old
Subsidies and Loans for Home Repairs Provided

Residential Performance Improvement Support Area around 456-1, Hwagok 2-dong, Gangseo-gu, Seoul. Seoul City

The Seoul Metropolitan Government will provide home repair subsidies and loans for aging houses in the Hwagok 2-dong area of Gangseo-gu.

On April 25, the city announced that, as a result of the third Urban Regeneration Committee review, it had approved the original proposal to newly designate the area around 456-17, Hwagok 2-dong as a Residential Performance Improvement Support Area. With this decision, the total number of Residential Performance Improvement Support Areas has reached 166.

A Residential Performance Improvement Support Area is designated to improve the environment of low-rise residential neighborhoods and to promote home repairs. If selected as a beneficiary through the review process of the 'Safe Home Repair Subsidy Project,' residents can receive subsidies covering up to 50% of construction costs, or up to 80% for vulnerable households, with a maximum subsidy of 12 million won. For loans, residents can receive support covering up to 80% of construction costs, with a maximum of 60 million won, at an annual interest rate of 0.7%.

The newly designated Residential Performance Improvement Support Area around 456-17, Hwagok 2-dong covers 213,315 square meters and is densely populated with low-rise houses of four stories or less. More than 60% of the buildings in the area are aging houses that have been in use for over 20 years since approval, resulting in poor residential conditions that require support for home repairs.

Choi Jinseok, Director of Housing for the Seoul Metropolitan Government, stated, "We expect that the home repair support project in the newly designated area will lead to improvements in the residential environment," and added, "We will continue to actively identify areas where development is difficult and designate them as Residential Performance Improvement Support Areas to improve residential conditions."

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