The Seoul city government said on the 26th it will recruit tenants from Oct. 13 to 15 for 905 units of the public rental housing "The Dream House+," where resident young people and university students can live for up to 10 years at half the market price or less.
"The Dream House+" is an integrated brand of youth housing policy that the Seoul city government released in March to carry out measures for young people such as expanding the supply of dwellings, supporting housing costs, and strengthening the housing safety net.
Through the "The Dream House+" project, the Seoul city government plans to add 25,000 units to the 49,000 youth dwellings already underway and supply a total of 74,000 units as dwellings for young people and university students by 2030.
The 905 units being recruited this time consist of ▲ 849 units of youth purchased-rental dwellings (490 new units including 17 science and engineering growth dwellings and 359 remaining vacant units) ▲ 56 units of dormitory-type youth dwellings. The Seoul Housing and Urban Development Corporation (SH) will supply officetels, urban studio dwellings, multi-family dwellings, and rental-type dormitories it has purchased to young people in need of housing support at rents set at 30%–50% of nearby market rates, and tenants can live there for up to 10 years.
Among these, the dormitory-type youth dwellings are rental-type dormitories purchased by SH to stabilize housing for university and graduate students, and are being supplied for the first time this time. The science and engineering growth dwellings are for full-time graduate students or postdoctoral researchers in science and engineering who are conducting research at universities in Seoul.
Eligibility for tenancy, as of the date of the recruitment notice, is university students, job seekers, young people ages 19–39, and science and engineering talent who are without a dwelling and unmarried, and they must meet the vehicle ownership standard of 45.42 million won or less.
The rank-based qualifications are: first priority is recipients, the second-lowest income bracket, and eligible single-parent families. Second priority requires the applicant and parents to have income at or below 100% of the monthly average income of urban workers and total assets at or below 345 million won. Third priority requires income at or below 100% of the monthly average income of urban workers and total assets at or below 251 million won.
The dormitory-type youth dwellings apply looser eligibility standards than the youth purchased-rental dwellings. First priority is recipients, the second-lowest income bracket, and eligible single-parent families; second and third priority are those whose personal income is at or below 100% of the monthly average income of urban workers. For first and second priority, current students (including those returning or set to enroll) at universities or graduate schools in Seoul are eligible, and for third priority, any young person ages 19–39 can apply.
Applications can be submitted through the SH online subscription system from Oct. 13 to 15. Document screening candidates will be announced on Oct. 20, final winners on Nov. 20, and move-ins will be possible starting in December. For details, check the tenant recruitment notice on the SH website or contact the call center.