This year, although the government said it would supply about 60,000 public rental dwellings in the Seoul metropolitan area, the actual supply rate is only 1% of the target. In particular, not a single public rental dwelling was constructed in Seoul this year.
On the 27th, Park Yong-gap, a member of the Democratic Party, analyzed the '2024 public rental dwelling and public rental housing supply performance' submitted by the Ministry of Land, Infrastructure and Transport, and found that only 600 public rental dwellings had been supplied in the metropolitan area from January to November this year.
This performance is less than 1% compared to the target announced by the government in May of this year. The Ministry of Land, Infrastructure and Transport stated in the '2024 Comprehensive Housing Plan' announced last May that a total of 64,000 public rental dwellings would be presented in the metropolitan area this year. At that time, the government promised to revitalize housing supply centered in the metropolitan area, stating, 'We will supply dwellings where the people want them.'
However, there were no public rental dwellings supplied in Seoul, where demand has been the highest. The Seoul city government reported that there were no initial supply targets set for public rental dwellings.
A Seoul city official said, 'There were no public rental dwellings supplied in Seoul this year,' and noted, 'The city did not set any target for public rental dwelling supply from the beginning.'
Even extending the scope nationwide, public rental dwelling performance this year was less than 10%. From January to November this year, a total of 4,700 public rental dwellings were supplied nationwide. This amount is only 5.2% of the government's target for public rental dwellings, which was set at 90,000.
The public rental dwellings supplied by the government exceeded 70% of the target achievement rate. A total of 103,500 public rental dwellings were supplied, achieving 72.9% of the annual target of 142,000.
Public rental dwellings are categorized into public rental dwellings built for rent, public purchase rental dwellings purchased for rent, and jeonse rental dwellings.
By type, from January to November this year, 67,000 purchased rental dwellings were supplied, successfully achieving the annual target of 100%. Jeonse rental dwellings also supplied 33,000 units, completing 83.3% of the annual target (40,000). However, the supply of construction rental dwellings was limited to 32,000 units, recording only 9.1% of the original plan of 35,000.
Park Yong-gap stated, 'The government promised to supply 2.7 million dwellings nationwide over five years by 2027, but from May 2022 to October of this year, only 1,034,470 units were supplied in 30 months,' and noted, 'While 540,000 dwellings need to be supplied annually, the government's average supply performance over 12 months was only 413,788 units, fulfilling 76.2% of the target.'
Park Yong-gap noted, 'Although the government failed to fulfill the promise to supply 90,000 public rental dwellings this year, there has been no apology from them,' adding that 'instead of setting unrealistic housing supply goals of 250,000 units next year, it would be appropriate to apologize for the failure to supply dwellings.'