Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures
8 Articles
8 Articles
(Seoul/Sejong = Yonhap News) Reporters Lim Ki-chang and Oh Jin-song = The 'Housing Stability Plan' announced by the government on the 21st aims to increase the supply of public rental housing while simultaneously improving its quality and...
Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures
The government said Monday it aims to supply 1.19 million public sale and rental homes through 2030, mostly in the Seoul metropolitan area, as part of its effort to expand housing support. The Ministry of Land, Infrastructure and Transport unveiled the housing stabilization plan, which focuses on providing tailored housing support for low-income households, young people and newlyweds amid rising home prices in the greater Seoul area. Under the p…
Kim Yi-tak, First Vice Minister of Land, Infrastructure and Transport, stated on the 21st, “We will not only sufficiently increase public housing to levels exceeding those of developed nations but also innovate housing quality and residential services to meet the expectations of consumers,” adding, “We will transition to a regional-centered, customized support system that considers life cycles and local conditions.” Vice Minister Kim made these …
The government has decided to supply 1.19 million public housing units by 2030 and expand the stock of long-term public rental housing to 10% of total housing. The Ministry of Land, Infrastructure and Transport announced this ‘Housing Stability Plan’ on the 21st. Of the 1.19 million public housing units to be supplied by 2030, 920,000 units, or 77%, will be allocated to the Seoul metropolitan area.
Government Announces 'Housing Stability Plan'... 920,000 Housing Units to be Supplied in Capital Area
The government plans to supply 1.19 million public housing units by 2030. It also announced plans to secure over 2.5 million long-term public rental housing units to usher in an era of "10% public rental housing." The plan aims to create a dense housing welfare network by supplying "universal public rental housing" accessible even to the middle class. The Ministry of Land, Infrastructure and Transport announced the "Housing Stability Plan" conta…
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