The Ministry of Land, Infrastructure and Transport (MOLIT, Minister PARK Sang-woo) announced that, as a follow-up to the ‘Housing Supply Measures to Secure National Residential Stability’ released on 8 August 2024, the first application round for the new ‘Stable Public Housing
Rental Program’ began on 30 April.
This new type of long-term rental housing system is designed to provide stable residential environment with non-apartment residences such as low-rise housings, multiplex homes, or urban high officetels for up to 8 years, while guaranteeing the safety of tenant deposits through
title examination of the real estates by public housing operators.
Eligible applicants for the new public housing program are from residential vulnerable groups to anyone regardless of income or assets,
except home owners, and the applicants can receive up to 80% of their lump sum (Jeonse) deposits at a low interest rate of 1~2% annually in accordance with a priority of families with newborns, multi-child households, soon-to-be or newly married couples within a allocated
budget amount.
Please refer to the attached files or the preview for more details!