Pohang City in North Gyeongsang Province is providing public housing that young people and newlyweds can afford at a low expense.
On the 27th, Pohang City announced that it will supply the Cheonwon Housing, a public purchase rental housing for young people and newlyweds. The city will re-rent LH rental housing at a low expense of 1,000 won a day and 30,000 won a month.
Starting with 100 households this year, the program will expand to 500 households over five years. The rental period is initially two years and can be extended up to four years. The target is households without housing among young people aged 19 to 45 and newlyweds.
The city will accept applications from the 16th to the 17th of next month and announce the winners on October 20th. The city plans to supply 1,800 public purchase rental housing focused on multi-child families and workers, as well as 1,200 households specifically for the elderly.
Mayor Lee Kang-deok said, "We will supply 3,500 public rental housing units for all life cycles from youth to the elderly, completing the Pohang-type housing welfare model."
Previously, Incheon City implemented the 'I plus Dream House' housing support project to address low birthrates and population decline. This project is an Incheon-style housing policy that provides housing stability and childcare support at a low rental fee of 1,000 won a day (30,000 won a month).
After the recruitment announcement, there were more than 200 inquiries in a day. Incheon Mayor Yoo Jeong-bok said, "I thank the citizens for their great interest" and noted, "The fact that many newlywed couples applied from the first day of registration confirms that the Incheon-style housing policy is essential support for newlyweds."