The Korea Land and Housing Corporation (LH) has officially opened applications for purchase-lease housing aimed at homeless youth, newly married couples, and low- to middle-income families as of April 7, 2025. This initiative, part of a broader strategy to provide affordable housing options, seeks to alleviate some of the housing pressures faced by these groups.
The purchase-lease project involves LH acquiring both newly built and existing homes in urban areas with good transportation access, making it easier for residents to commute to work or school. Last year, the competition for youth purchase-lease housing was notably high, averaging a staggering 53 applicants for every available unit. For newlywed couples and families with newborns, the competition was also intense, with an average of 6 applicants per unit.
Through this latest announcement, LH plans to supply a total of 3,003 housing units nationwide. The breakdown includes 1,666 units designated for youth and 1,337 units for newly married couples and families. The youth purchase-lease housing is specifically tailored for individuals aged 19 to 39, which includes college students and job seekers.
In terms of geographic distribution, 767 units will be available in the Seoul, Gyeonggi, and Incheon metropolitan areas, while the remaining 899 units will be allocated to other regions across the country. The rental conditions for these units are set at 40 to 50 percent of the market price, allowing tenants to stay for a maximum of 10 years. However, if they marry after moving in, they can extend their stay for up to 20 years.
To cater to the unique needs of young residents who often relocate due to academic or employment commitments, LH is also providing built-in facilities in these homes. These facilities may include refrigerators, washing machines, and air conditioners, all designed to optimize living conditions for single occupants.
On the other hand, the newly married and newlywed purchase-lease housing is aimed at couples who have been married for seven years or less, along with families that have recently welcomed a newborn. This category includes 654 units in the Seoul, Gyeonggi, and Incheon areas, and 683 units in other regions. The housing is divided into two types based on income and asset criteria: Newly Married/Newlywed I and II.
The Newly Married/Newlywed I housing units are offered at 30-40 percent of the market price, specifically for multi-child households and larger homes, allowing tenants to live for up to 20 years. In contrast, the Newly Married/Newlywed II units are provided at a Jeonse price of 70-80 percent of the market value, which is a type of lease requiring a large deposit upfront, with lower monthly rent. These units allow tenants to stay for up to 10 years, or 14 years if they have children.
Applications for this program will be accepted over a three-day period from April 7 to April 9, 2025. Following this, successful applicants will be informed about the document screening process in mid-April. The preliminary list of move-in candidates is set to be announced in June.
For those interested in applying or seeking further details, information can be found on the LH application platform, LH청약플러스, or through the LH Call Center.
This initiative by LH is a crucial step towards addressing the housing crisis faced by young individuals and families in South Korea, providing them with more accessible and affordable living options in urban areas.
