The Ministry of Land, Infrastructure and Transport said on the 10th that starting on the 11th, it will recruit tenants for purchased lease housing for youth and for newlyweds and households with newborns in 16 metropolitan and provincial areas nationwide.
The scale of recruitment is a total of 3,503 households, including 1,112 youth households and 2,391 newlywed/newborn households. After verifying applicants' eligibility, move-in could begin as early as December.
Purchased lease housing for youth is supplied to unmarried young adults who do not own a home. They can live there for up to 10 years at affordable rents set at 40%–50% of market rates.
Purchased lease housing for newlyweds/newborns is offered to newlywed couples without a home. It is divided into Newlywed/Newborn Type I (1,339 households), set at 30%–40% of market rates, and Newlywed/Newborn Type II (1,052 households), set at 70%–80% of market rates.
Newlywed/Newborn Type I targets households earning at or below 70% (90% for dual-earner households) of the monthly average income of urban workers. The criterion for Newlywed/Newborn Type II is at or below 130% (200% for dual-earner households) of the monthly average income of urban workers.
Households with a newborn who has a child born within the past two years from the date of the tenant recruitment announcement will be recruited as first-priority tenants and given priority supply. Newlyweds within seven years of marriage, prospective newlyweds, and households raising children age 6 or younger can also apply for the tenant recruitment for purchased lease housing for newlyweds/newborns.
Kim Do-gon, head of the Housing Welfare Support Division at the Ministry of Land, Infrastructure and Transport, said, "We hope the younger generation, including youth and newlyweds, will take interest and actively apply, and we will work to continue supplying quality purchased lease housing in good locations within city centers."