Busan Urban Corporation to Re-Supply One Canceled Unit at Ilgwang Xi Prugio Complex 1

For Heads of Homeless Households in Busan
Same Sale Price Applies; Application Process Begins December 8

Busan Urban Corporation (BMC, President Shin Changho) announced on December 5 that it will conduct a new application process for one unit at Ilgwang Xi Prugio Complex 1, which became available due to a contract cancellation.

The unit available for re-supply is an 84-square-meter apartment whose previous contract was canceled after the original buyer violated the Housing Act. The notice for tenant recruitment will be posted on December 8, applications will be accepted on December 15, and the winner will be announced on December 18.

Eligibility is limited to heads of households without a home who reside in Busan as of the tenant recruitment announcement date. Applications are open regardless of whether the applicant has a subscription savings account. In addition, since the resale restriction period for this unit has already expired, no separate resale regulations apply.

The sale price is set at approximately 334 million won (including balcony extension costs), which is the same as the original sale price. The complex is currently trading at a higher market price than the initial sale price, so a capital gain is expected for the successful applicant. However, this is a natural result of changes in the real estate market since the initial sale in 2017, and the corporation clarified that it did not intentionally create an opportunity for capital gain.

President Shin Changho stated, "Since the eligibility conditions for this re-supply are not strict, we expect strong interest from many Busan residents. We will thoroughly prepare to ensure that every step, from application to move-in, proceeds smoothly."

Ilgwang Xi Prugio Complex 1 consists of five buildings with a total of 488 units, ranging from two basement levels to 29 above-ground floors. Detailed information on the application process is available on the Cheongyak Home website and the Busan Urban Corporation website.

Busan Urban Corporation.

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