The Korea Land and Housing Corporation (LH) announced on the 21st that it will conduct the first preliminary recruitment of residents for happy housing this year.
Happy housing is rental housing supplied at prices lower than the market rate, aimed at stabilizing housing for young people, such as university students, youth, newlyweds, as well as vulnerable groups like the elderly and beneficiaries.
LH will recruit 6,174 preliminary residents in 49 complexes nationwide. By region, the capital area includes 1,521 households in 18 complexes, including Wiaenggochun, while the non-capital area includes 4,653 households in 31 complexes, including Yangsan Mulgeum. Notices for the capital area will be sequentially posted starting on the 21st, and for the non-capital area, starting on the 28th.
Application acceptance will be conducted sequentially by complex starting on the 29th. After passing the eligibility verification process, if selected as a preliminary resident, individuals will wait for a specified period until a vacancy occurs before moving in.
The rental conditions for happy housing are set at 80% or less than the market price. Residents can stay for periods ranging from 10 to a maximum of 20 years, depending on the supply type.
According to the revision of the 'Special Act on Public Housing Enforcement Regulations' on the 31st of last month, households with children under 2 years old can receive priority supply within 30% of the recruitment quota.
LH conducts regular recruitment of preliminary residents for happy housing and national rental housing nationwide five times a year. In the results of the national rental housing preliminary resident recruitment conducted on the 14th of last month, about 70,000 people applied for a total of 25,000 households in 359 complexes. In the capital area, the average competition rate was recorded at 6.4 to 1.