The Housing and Urban Guarantee Corporation (HUG) announced on the 19th that it will recruit a total of 500 residents for the 6th round of the Dundeun Jeonse dwellings starting from the 26th.
The Dundeun Jeonse dwellings project involves HUG purchasing dwellings where it repays the jeonse deposit on behalf of the tenant and supplying them as public rental dwellings. The dwellings available in this round are located in urban areas of the Seoul, Incheon, and Gyeonggi Bucheon regions. Approximately 71,000 individuals applied for the first five rounds of the Dundeun Jeonse dwellings recruitment, which was conducted from July last year, resulting in an average competition rate of 158 to 1 for 450 units.
Dundeun Jeonse dwellings can be applied for by members of households without housing, regardless of age, income, or assets. HUG acts as the landlord, ensuring that there is no concern about losing the jeonse deposit, with the option to reside at a deposit level of 90% of the surrounding market price for up to eight years.
Prospective residents can apply online through the "HUG Safe Jeonse Portal" from the 26th of this month to April 7. HUG plans to announce the final winners on June 18 after verifying eligibility requirements, such as housing status.