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Starting from November this year, a new public housing program will allow tenants to purchase their rental units after living in them for six years Starting from November this year, a new public housing program will allow tenants to purchase their rental units after living in them for six years. A total of 50,000 units are planned to be offered to non-homeowners by next year. Additionally, the Housing & Urban Guarantee Corporation (HUG) will introduce 16,000 units of its "HUG Solid Lease Housing" program by next year, which involves purchasing properties that have faced rental deposit return guarantee incidents. On the 22nd, the Ministry of Land, Infrastructure, and Transport announced new measures for public rental housing aimed at non-homeowners. This initiative is a follow-up to the August 8th Supply Plan, which promised to provide 110,000 units of public rental housing to stabilize the non-apartment housing market. The new lease-to-purchase program will allow tenants ...

The government has announced a new public rental housing supply plan for those without homes. The government has announced a new public rental housing supply plan for those without homes. Starting in November, 50,000 units of ‘purchase conversion rental housing’ will be available at lower rental rates than market prices. Additionally, 16,000 units of HUG’s ‘Dundun Jeonse’ will be supplied by next year. This article introduces the main features and details of the new plan. Starting in November, the government will provide ‘purchase conversion rental housing’ at rental rates lower than market prices. This housing option will offer a significant opportunity for those without homes. The Housing and Urban Guarantee Corporation (HUG) will also supply 16,000 units of ‘Dundun Jeonse’ by next year, which are public rentals using houses bought from rental deposit return guarantee incidents. Features of Purchase Conversion Rental Housing Purchase conversion rental housing allows tenants to live i...