The Ministry of Land, Infrastructure and Transport (hereinafter referred to as the Ministry of Land, Infrastructure and Transport) announced that it has supplied 150,000 units, 9,000 units more than the 2020 supply plan, 141,000 units according to the housing welfare roadmap, as a result of calculating the performance of public rental housing supply in 2020.
By type, 72,000 units of construction rental housing were supplied, 28,000 units of purchased rental units purchased and supplied with existing houses, and 50,000 units of private rental units were supplied.
By region, 61% of the total supply, or 92,000 units, was supplied to the metropolitan area and 39% of the local area supplied 58,000 units.
Supply of public rental housing by region (data = Ministry of Land, Infrastructure and Transport)
The Ministry of Land, Infrastructure and Transport plans to steadily supply public rental housing at an annual average of 140,000 units according to the’Residential Welfare Roadmap’, securing 2.4 million long-term public rental housing stocks by 2025, and achieving an inventory rate of 10%, exceeding the OECD average of 8%. .
A total of 438,000 units have been supplied for public rental housing for three years since 2018, and the supply plan according to the’Residential Welfare Roadmap’ is being promoted without any problems.
As of the end of 2019, the long-term public rental housing inventory was 1584,000 units, with an inventory rate of 7.4%.However, with supplying 150,000 units in 2020, approximately 1.7 million units are expected to be secured by the end of 2020, and the inventory rate is the OECD average. It is expected to be able to achieve the 8% level.
“2020 is a meaningful year for the long-term public rental housing inventory rate to reach the OECD average,” said Kim Jeong-hee, the Ministry of Land, Infrastructure and Transport, to provide public rental housing that wants to live by increasing the quality as well as the quantitative expansion of public rental housing. I will try” he said.