Korea Land & Housing Corporation (LH) said that starting on the 22nd it will begin accepting the third-round applications for purchase-type rental dwellings for 2025, aimed at youth and newlyweds without homes as well as the middle class and working-class.
The purchase-type rental program is a system in which LH purchases newly built and existing dwellings in urban areas with good transportation access and proximity to workplaces and rents them at low cost. Through this notice, LH will supply a total of 2,643 units nationwide. By type, there are 1,232 youth purchase-type rental dwellings and 1,411 newlywed and newborn purchase-type rental dwellings.
The "youth purchase-type rental dwellings" are dwellings supplied for youth ages 19 to 39, college students, and job seekers. By region, the Seoul, Gyeonggi, and Incheon capital area has 591 units, and other regions have 641 units.
The rent is set at 40% to 50% of nearby market prices, and residents can stay for up to 10 years, or up to 20 years if they marry after moving in.
Reflecting the needs of young people who move frequently for study or employment, depending on the dwelling conditions, they will be supplied with built-in features optimized for single occupancy, such as a refrigerator, washing machine, and air conditioner.
The "newlywed and newborn purchase-type rental dwellings" are dwellings supplied for couples married within seven years, including engaged couples, and households with newborns. By region, the Seoul, Gyeonggi, and Incheon capital area has 404 units, and other regions have 1,007 units, and they are classified into newlywed and newborn I and II types according to income, asset criteria, and other factors. A household with a newborn is one that has a child born within the past two years from the date of the tenant recruitment announcement.
The "newlywed and newborn I purchase-type rental dwellings" are a type that supplies multi-household and multi-unit dwellings at 30% to 40% of market prices, with a maximum residency of 20 years. The "newlywed and newborn II purchase-type rental dwellings" are a type that supplies apartments and officetels in a quasi-jeonse format at 70% to 80% of market prices (80% of the rental terms as a deposit, 20% as monthly rent), reducing the rent burden. Residents can stay for up to 10 years, or up to 14 years if they have children.
Applications will be received for three days from Sept. 22 to 24, after which candidates for document screening will be notified in September, and after verifying tenant eligibility such as income and asset status, prospective tenants will be announced in December.
For more details, refer to the announcement posted on LH Subscription Plus, and phone consultations are also available through the LH call center.