The Seoul Housing and Communities Corporation (SH Corporation) announced on 4th that it will purchase 2,917 dwelling units this year through a new construction agreement method.
SH Corporation released an announcement stating that it will purchase a total of 2,917 units across five types: Newlywed I, Newlywed II (linked to the Miri-nae House), general, youth, and rental-type dormitories. Approximately 60% of the total amount, or 1,707 units, will be the Newlywed II type, which is linked to the Miri-nae House.
This year's purchases will include incentives to activate the supply of purchased dwellings and strengthen financial support for sellers. To expedite project implementation, the period from the purchase announcement to the signing of the agreement has been shortened from the previous 8 months to 5 months, and the payment ratio will be improved to increase the proportion of agreement and deposit amounts to alleviate the financial difficulties of the project operators.
Additionally, the Housing and Urban Guarantee Corporation (HUG) is aiming to strengthen financial support to enable loans at low rates from first-tier financial institutions for up to 90% of the total project cost using its "Urban Housing Special Warranty" product.
In addition, to enhance understanding of the Newlywed II (Miri-nae House) purchase type, it has been decided to conduct prior consulting for project operators (sellers).
Applications for the sale of dwellings will be accepted until the 28th. SH Corporation plans to achieve its goal of acquiring 5,350 rented dwellings this year by adding the newly purchased 2,917 units to the rollover amount of 1,206 units from last year and the prior purchase announcement amount of 1,000 units. The 227 units excluded from this purchase will have their details, including supply targets, confirmed and announced later.
More detailed information regarding purchase criteria and procedures can be found in the purchase announcement on the SH Corporation website or at the "Purchase Housing Project Briefing" scheduled for the 11th.