Gyeonggi Province Completes 28 Lease-Purchase Units in Pocheon City…Tenant Recruitment in November

Gyeonggi Province and Gyeonggi Housing and Urban Development Corporation (GH) completed 28 lease-purchase rental units across Seondan-dong and Sinieup-dong in Pocheon City in July to ensure residential stability for low-income households without homes.

The completed units consist of △12 urban-type residential units in Seondan-dong, Pocheon City and △16 multi-family units in Sinieup-dong, Pocheon City. The two project sites began construction in January of this year following the signing of purchase commitment agreements in December of last year.

Lease-purchase rental units are rental housing where GH pre-signs purchase commitment agreements with private developers targeting newly constructed properties and participates from the design and construction phases to manage quality. Unlike the conventional method of purchasing after completion, this approach allows public involvement from the construction stage to systematically ensure residential quality.

Tenant recruitment is scheduled to take place in November, with rental conditions offered at approximately 30% of surrounding market rates. Contracts are signed on a two-year basis, and residents can live for up to 30 years maximum depending on occupancy eligibility.

Detailed information regarding tenant recruitment schedules and eligibility requirements will be provided through the GH website (https://gh.or.kr) and GH Call Center (1588-0466).

Kim Tae-su, head of the Housing Policy Division at Gyeonggi Province, stated, "We anticipate that the supply of these lease-purchase rental units will contribute to residential stability for low-income households without homes," and added, "Moving forward, we will carefully examine housing demands by region and supply high-quality lease-purchase rental units in a timely manner to improve the housing welfare of province residents."