Suwon City to Offer 151 Transit-Oriented Youth Rental Units... Applications Open August 24-28

On August 24 to 28, Suwon City in Gyeonggi Province will begin accepting applications for a total of 151 new tenants for "Saebit Youth Zone," a youth rental housing project near major transit stations. This includes 141 new units for the fourth Saebit Youth Zone and 10 vacant units in the first zone.

The Saebit Youth Zone is a housing support initiative for young people, jointly promoted by Suwon City and Korea Land & Housing Corporation (LH) under the "Suwon Youth Customized Housing Support Business Agreement." Suwon City selects tenants according to its own criteria by utilizing LH’s remodeled non-residential properties located near stations and offers these rental units at rates lower than the market price.

The newly available Saebit Youth Zone 4 is an officetel building with 141 units, each with an exclusive area of 26 square meters, located at 14-6, Hyowon-ro 265beon-gil, Paldal-gu (Ingye-dong). It is approximately a two-minute walk from Suwon City Hall Station.

Saebit Youth Zone Tenant Recruitment Announcement Poster

For Saebit Youth Zone 1, the city will recruit tenants for 10 vacant units created by departing residents. These officetel units, each with an exclusive area of 26 square meters, are located at 28, Gwongwang-ro 123beon-gil, Gwonseon-gu (Gwonseon-dong), about a five-minute walk from Suwon City Hall Station.

The lease term is two years initially, with the possibility of renewing the contract up to four times in two-year increments. Recipients of livelihood, medical, or housing benefits will pay a 1 million won deposit and rent set at approximately 40% of market rates. Other eligible young people will pay a 2 million won deposit and rent at approximately 50% of market rates.

Applicants must be young adults aged 19 to 39 registered as residents in Suwon City and must meet certain income and asset requirements. Seventy percent of the tenants will be selected from those who meet the "Suwon Youth Special Priority Move-in Criteria" in order of highest score, while the remaining thirty percent will be chosen from other general youth applicants, also based on score.

An official from Suwon City stated, "The Saebit Youth Zone is a program aimed at alleviating housing costs for young people and supporting stable living," and added, "We will expand housing welfare policies that provide practical help to young people."

This content was produced with the assistance of AI translation services.