Gyeonggi Province Pushing Forward Research into 'Gyeonggi-Style Fair Housing Model' for Youth and Newlyweds

Gyeonggi Province is reviewing the feasibility of introducing a 'Gyeonggi-style fair housing model' that allows youth and newlyweds—who face difficulties in homeownership due to high housing prices and living costs—to reside long-term at affordable costs while also building assets.

Gyeonggi Province announced on the 14th that it will conduct research on 'Introduction Methods for a Gyeonggi-Style Housing Model to Realize Fair Housing for Youth and Newlyweds' as a short-term policy project of the Gyeonggi Research Institute from this month through the end of this year.

The research will analyze the structures and operational cases of public-led housing models, both domestic and international, including land lease housing where the public retains ownership of the land and sells only the building, as well as profit-sharing types, equity accumulation types, and long-term public rental housing.

Based on this, the province plans to examine the feasibility of introducing a Gyeonggi-style housing model that reduces the initial housing purchase burden for youth and newlyweds while enabling them to reside stably over the long term and build assets, along with concrete operational methods.

In particular, the province will compare the strengths and weaknesses of each model regarding housing supply prices, residence periods, and asset formation methods, and review whether they can be applied to Gyeonggi Province's housing market and business conditions.

This research was promoted based on the assessment that as housing prices and living costs continue to burden the Seoul metropolitan area, it is becoming increasingly difficult for youth and newlyweds to secure stable housing and achieve homeownership.

Based on the research results, the province plans to review the feasibility and implementation methods of the Gyeonggi-style housing model, and also examine the possibility of pilot application in connection with housing projects by Gyeonggi Housing & Urban Development Corporation (GH).

Lee Myung-sun, director of the Space Strategy Division at Gyeonggi Province, stated, “What youth and newlyweds need is not merely to increase housing supply, but to expand their options to reside stably at affordable costs while also forming assets,” and added, “We will specifically review whether a housing model suited to Gyeonggi Province's circumstances can actually lead to business projects.”

천의현 대표이사 euihyun@suwonilbo.kr