Seoul Housing and Communities Corporation (SH Corporation) announced on the 30th that it is recruiting tenants for 527 long-term rental housing units.
Known as "SHift," the Seoul long-term rental housing 1 is a housing support program introduced by Mayor Oh Se-hoon in 2007, allowing residents to live for up to 20 years.
SH Corporation is recruiting tenants and prospective tenants for a total of 527 units, including new supply such as Ium I-Park Xi and Riverside SK View Lotte Castle. The recruitment announcement will be posted on the SH Corporation website at 4 p.m. today.
The new supply consists of 213 units at Ium I-Park Xi in Dongdaemun District (41 and 59 square meters) and 11 units at Riverside SK View Lotte Castle in Jungnang District (49, 59, 70, 84, and 100 square meters), totaling 224 units. All are Seoul city purchase-type.
The re-supply includes 48 units from SH Corporation's construction type in Sangam 2 District and Cheonwang District, 97 units from Seoul's purchase type in Olympic Park Foreon in Gangdong District, and 158 units from Seoul REITs No. 3, totaling 303 units, including prospective tenants.
To qualify for tenancy, applicants must be adult members of a household residing in Seoul at the time of the recruitment announcement. They must meet income criteria based on housing area (below 100%, 120%, or 150% of the average monthly income of urban workers), total asset (below 640 million won), and vehicle ownership criteria (below 38.03 million won). Income and asset criteria may be relaxed by up to 20% depending on the number of children born.
Starting from this recruitment, the total asset value, which includes not only real estate and vehicles but also financial assets and liabilities, has been newly introduced as a criterion for tenant qualification assessment.
Looking at the general supply tenant qualifications, housing units of 85 square meters or less have income conditions, residence, and saving account subscription history determined by the application area. Housing units exceeding 85 square meters determine subscription rankings based on the amount deposited in the integrated subscription savings and the duration of membership.
Those wishing to apply for 'housing for vulnerable populations' under the general supply must meet additional qualifications such as being elderly or disabled.
Priority supply applicants include the elderly, disabled individuals, caregivers for elderly parents, households with two or more children, and veterans. Those who are eliminated from the priority supply will automatically be converted to general supply applicants of the same complex and area.
Applications can be made online or in person. The first priority application period is on the 13th and 14th of next month, the second priority on the 19th of the same month, and the third and fourth priorities on the 21st. Applicants must apply on their respective priority application date, and if the number of applicants exceeds 200% of the number of available units (300% for new complexes), later applications will not be accepted.
The results for document screening and selection will be announced on June 20 and November 14, respectively, and occupancy will be possible from December onwards. In the case of new supply complexes, the occupancy dates may vary depending on the completion date. The complex layout, floor plans, number of available units per complex, and online application methods can be checked on the SH Corporation website.