Ministry of Land, Infrastructure, and Transport supplies 45,000 units of purchased lease this year… The largest ever

The Ministry of Land, Infrastructure and Transport will supply 45,000 units of purchased rental housing this year to stabilize housing for low-income families such as young people, newlyweds, and the elderly.  The photo is an apartment village in Seoul. [사진=연합뉴스]
The Ministry of Land, Infrastructure and Transport will supply 45,000 units of purchased rental housing this year to stabilize housing for low-income families such as young people, newlyweds, and the elderly. The photo is an apartment village in Seoul. [사진=연합뉴스]

[이뉴스투데이 박현 기자] The Ministry of Land, Infrastructure and Transport (hereinafter referred to as the Ministry of Land, Infrastructure and Transport) will provide 45,000 units of purchased rental housing for the stability of housing for young people, newlyweds, and elderly people.

Purchased lease is a housing that is rented inexpensively after a public housing operator such as LH (Korea Land and Housing Corporation) purchases and repairs existing housing, and has the advantage of being able to quickly supply housing that can be accessed directly within the city center.

This year’s target of 45,000 units is an increase of more than 60% compared to last year’s purchase of 28,000 units, and the number of units since the start of the purchased rental housing business in 2004, the Ministry of Land, Infrastructure and Transport explained.

The 45,000 units are divided into 21,000 new purchase agreements, 8,000 public remodeling units, and 16,000 existing housing purchase methods.

New construction purchase agreement is a method of contracting to purchase houses built by private businesses after construction by LH and others. To this end, the Ministry of Land, Infrastructure and Transport plans to expand the supply of new medium-sized housing (60~85㎡) that can accommodate 3-4 people or more.

Public remodeling is a method of supplying old houses, shops, hotels, etc. after major repairs or reconstruction.

Purchased leases are basically targeting homeless people, and are provided to young people, newlyweds, multi-child households, and elderly people based on income standards (average monthly income per household by number of urban workers in the previous year) and asset standards.

This year, for newlyweds type II, a 4th priority will be newly established for married couples without children or couples who could not apply due to income and assets, although seven years have passed since marriage. The fourth priority can be applied if the monthly average income is 120% or less (140% for double income) and total assets are less than 330 million won.

In addition, the income standard was raised by 20 percentage points for single-person households and 10 percentage points for two-person households, allowing more households to benefit from purchase rentals.

Along with this, multi-child households are not included in the tenancy when grandparents raise two or more grandchildren, but from this year, grand-grandchildren households with two or more minors will be able to move into multi-child purchase rental.

In addition, the number of renewals has been expanded from the previous nine times to an unlimited number so that elderly people living in purchase rentals can live without the burden of moving.

This year, 14,500 rental units for youth purchases will be supplied, of which 1,500 are dormitory-type youth housing units. For newlyweds, the purchase lease is 10,000 units for type I and 5,000 units for type II. Purchased leases of 1500 units for multi-child households, 13,000 units for the general population, and 1,000 units for the elderly will be provided.

For the youth and newlyweds, the total recruitment of tenants is promoted in March, June, September, and December to increase the predictability of recruitment of tenants and to allow tenants to move in before the start of classes, such as universities.

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