Seoul will provide up to 400,000 won to young people for real estate brokerage fees and moving costs.
The Seoul city government said on the 18th that it will recruit 4,000 recipients for the "young adult real estate brokerage fee and moving cost support" program through the Youth Portal until the 31st of this month.
The program aims to ease housing costs for young people, and the eligible recipients are non-homeowning young adults ages 19–39 who moved to Seoul or within Seoul after Jan. 2024.
Applicants must live in jeonsei or monthly rental dwellings with a transaction amount of 200 million won or less, and their household income must be at or below 150% of the median household income based on the National Health Insurance premium notice for July this year. For a single-person household, the pre-tax monthly income is 3,847,000 won.
Those who rent dwellings owned by their parents, recipients of livelihood, medical, or housing benefits, and those who received the same brokerage fee or moving cost support from another institution are excluded.
If the number of applicants who meet the requirements exceeds the recruitment quota, the city will first select socially vulnerable individuals and housing-insecure young adults, then choose recipients in order of lower income. After document screening and eligibility verification, the city will determine qualified applicants in Oct., finalize recipients after handling objections and supplementing documents, and pay the support funds in Dec.
In the first half of this year, 17,602 people applied, 4,036 were selected, and the average amount per person was 317,000 won. Priority recipients numbered 1,307, or 32% of the total.