Dongjak District Recruiting Tenants for Youth-Tailored Public "Manwon Housing"
Applications Open Until May 15 for Single, Non-Homeowner Young Adults Aged 19 to 39
Dongjak District in Seoul will launch the third phase of its "Manwon Housing" initiative to alleviate housing insecurity for single young adults without homes and to support their stable independence.
The district, in cooperation with Seoul Housing & Communities Corporation (SH Corporation), has prepared a total of eight "youth-tailored public rental housing" units in three areas: Sangdo, Daebang, and Sadang. The recruitment notice for tenants was posted starting May 1.
District Mayor Ilha Park visited and inspected the youth-tailored public housing located in Sadang-dong on the 30th of last month. Provided by Dongjak District Office.
View original image"Manwon Housing" is an innovative youth housing policy that allows residents to live in these units for a monthly rent of just 10,000 won. The initial lease term is two years, and it can be extended up to a maximum of ten years if eligibility is maintained. The security deposit for each unit ranges from 11.87 million to 42.21 million won, and the standard monthly rent is between 150,000 and 430,000 won. However, Dongjak Korea Co., Ltd., an investment institution of the district, covers all but the 10,000 won self-payment.
Eligibility is limited to single, unmarried young adults aged 19 to 39 who do not own a home, and whose household's average monthly income is 70% or less of the previous year's average for urban workers, and who meet the asset criteria. Applications for tenancy will be accepted via email from May 12 to 15. After document screening and a scoring evaluation, the final list of residents will be announced on August 8.
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District Mayor Ilha Park stated, "We have decided to supply additional Manwon Housing this year to provide practical support for young people," adding, "We will continue to expand housing policies for the younger generation in the future."
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