The recruitment of residents for 4,943 rental housing units for young people and newlywed/infant households will begin on the 26th.
The Ministry of Land, Infrastructure and Transport announced on the 24th that it will recruit residents for a total of 4,943 rental housing units across 15 cities and provinces, including 2,508 units for young people and 2,435 units for newlywed/infant households. This is the second round of recruitment for rental housing units this year. In the first round of recruitment in March, a total of 4,075 units were recruited.
The rental housing for young people is provided for unmarried young individuals without homes. Young people can live there for up to 10 years at a rental price that is approximately 40-50% of the market price.
The newlywed/infant rental housing is aimed at newlywed couples without homes. It is divided into Type I (1,584 units) providing housing at approximately 30-40% of the market price and Type II (851 units) providing housing at approximately 70-80% of the market price.
Type I for newlywed/infant households can apply if their monthly average income is 70% (90% for dual-income couples) of the average income for urban workers. Type II is targeted at those with a monthly average income of less than 130% (200% for dual-income couples) of the average income for urban workers.
Infant households will be prioritized as first-choice applicants for supply, and newlywed couples within seven years of marriage, prospective newlywed couples, and households raising children under six years old can also apply for the newlywed/infant rental housing.
By organization, the Korea Land & Housing Corporation (LH) will recruit residents for 1,378 young people and 2,435 newlywed/infant rental housing units. The Seoul Housing and Communities Corporation and others will also accept applications for 1,130 rental housing units.
This rental housing will allow applicants to move in as early as the end of September after undergoing qualification verification and other processes.
Kim Do-gon, an official at the Ministry of Land, Infrastructure and Transport's Housing Welfare Support Division, said, "We will ensure the smooth progress of the second round of rental housing recruitment so that young people and newlywed couples can make a new start in a stable residence, and we will do our best to support housing stability."