The Ministry of Land, Infrastructure and Transport said on the 25th that, starting on the 26th, it will begin recruiting tenants for purchased rental dwellings for young people and newlyweds/newborn households in 16 cities and provinces nationwide.
Purchased rental dwellings are public rental dwellings that the government supplies directly by purchasing or newly building high-quality dwellings in city centers. Because tenants can live for a long time at low rents with peace of mind, preference and satisfaction among residents are high.
This year's planned recruitment volume totals 17,252 households, including 9,112 for young people and 8,140 for newlyweds/newborns. The plan is to supply 10,923 households, or 63% of the total, in the greater Seoul area, where housing demand is concentrated.
Starting this year, the recruitment schedule will be shifted from the previous quarterly regular recruitment to a rolling system that reflects regional and dwelling-specific conditions, reducing move-in wait times. The decision aims to supply dwellings quickly.
Purchased rental dwellings for young people are supplied to unmarried young adults without a home. With low rents at 40%–50% of market rates and a maximum residency of 10 years, they provide a stable housing base for young people preparing for economic independence.
Purchased rental dwellings for newlyweds/newborns are supplied to newlywed couples without a home, divided into the Newlywed/Newborn I type at 30%–40% of market rates and the Newlywed/Newborn II type at 70%–80% of market rates.
Newlywed/Newborn I type: households with monthly average income at or below 70% of the urban worker household average (90% for dual-income). Newlywed/Newborn II type requires at or below 130% of the urban worker household average (200% for dual-income).
Households with newborns are recruited as first-priority tenants and receive priority supply. Newlyweds within seven years of marriage, prospective newlyweds, and households raising children age 6 or younger can also apply for the purchased rental dwellings for newlyweds/newborns.
For the purchased rental dwellings for young people and newlyweds/newborns recruited by the Korea Land & Housing Corporation (LH), details can be checked on LH Subscription Plus starting on the 26th. Purchased rental dwellings recruited by agencies such as the Seoul Housing and Urban Development Corporation can be checked on each institution's website.
Lee Ki-bong, housing welfare policy director at the Ministry of Land, Infrastructure and Transport (MOLIT), said, "We will continue to swiftly supply purchased rental dwellings in key locations within city centers and actively expand housing welfare services that the public, including young people and newlyweds, can feel."