Rental housing that charges a monthly fee of 10,000 won is gaining popularity among youth and newlywed couples in local governments across the country. The '10,000 won housing,' which started in Jeollanam-do, is expanding not only to other local areas but also to the metropolitan area including Incheon and Seoul.
According to Incheon Urban Corporation (iH) on the 4th, it plans to supply 500 units of '1,000 won housing' owned by iH from June 6 to June 14 to include prospective newlywed couples, newlywed couples, and households with newborns.
iH is supplying 500 units of 1,000 won housing targeting newlywed couples by purchasing apartment buildings in Michuhol-gu, Seo-gu, Namdong-gu, and Gyeyang-gu in Incheon, with sizes ranging from 65 to 85 square meters.
If selected for 1,000 won housing, residents can live for up to six years at a monthly rental fee of 30,000 won, paying 1,000 won per day. The deposit ranges from 25 million to 30 million won.
The selection priority for prospective residents is first for households with newborns, second for newlywed couples with children, and third for newlywed couples without children. Winners must decide on a residence after viewing several desired dwellings and complete the move-in within 60 days from the contract date.
In Seoul, 10,000 won housing for young newlywed couples and prospective newlywed couples has emerged. The Dongjak District Office recruited residents for 'Newlywed 10,000 won housing' targeting those aged 19 to 39 without housing last year, receiving applications from over 100 people for seven units, resulting in a competition ratio of 14 to 1.
The rental deposit for the 10,000 won housing in Dongjak District is 5% of the jeonse deposit, with a monthly rental fee of 10,000 won. It is located in a total of seven places, including two in Noryangjin-dong, two in Sangdo-dong, one in Heukseok-dong, and two in Sadang-dong, consisting of apartment buildings and multi-family dwellings. The units range from 28.54 to 64.24 square meters, featuring two to three rooms and one bathroom. All 10,000 won housing units, except for one in Noryangjin-dong, also have parking spaces.
Last year, Dongjak District spent about 1.8 billion won to establish contracts and insurance with local home rental businesses and operates the 10,000 won housing by lending it to selected young newlywed couples.
The first place to introduce 10,000 won housing nationwide was Hwaseong County in Jeollanam-do. Hwaseong County first unveiled the 10,000 won housing to address the housing insecurity of youth and newlywed couples in response to local population decline.
Hwaseong County provided 10,000 won housing, re-renting empty apartments from the local Beuyoung rental complex to newlyweds and youth for a monthly rent of 10,000 won, spending 4.8 billion won to supply over 200 units last year in 2023.
According to Hwaseong County, after the introduction of 10,000 won housing, there has been an influx of youth and a simultaneous increase in the population. After implementing the 10,000 won housing, the county noted that the birth rate increased and the population decline was alleviated. Of the residents in Hwaseong County's 10,000 won housing, 90 were migrants from areas such as Gwangju, accounting for 45% of the total, while local residents numbered 110, making up 55%.
Among the residents of 10,000 won housing, 173 individuals, or 86.5%, are under 40 years old, indicating that youth comprise the majority. Hwaseong County plans to add 200 more units of 10,000 won housing by next year.
Jeollanam-do and Jeollabuk-do are preparing to supply 10,000 won housing in Jeonju. Jeollanam-do plans to invest 284.3 billion won, including the local extinction response fund, to supply 1,000 units of 10,000 won housing in areas such as Goheung, Boseong, Jindo, and Sinan County by 2035.
Jeonju plans to supply 82 units of rental housing this year, including 'Youth 10,000 won housing' and 'Youth Lodging,' which have a monthly rental fee of 10,000 won. The types of housing are divided into one to three rooms, with rental prices set at 10,000 to 30,000 won based on type.
Choi Dong-am, president of iH, said, 'iH will strive to create an environment where newlywed couples can live stably in Incheon.'
Park Il-ha, the head of Dongjak District Office, noted, 'The biggest concern for newlywed couples is housing' and added, 'We will continue to implement various 10,000 won housing policies to address housing issues across different sectors.'