SH Seeks Tenants for 1,484 Happy Housing Units...at 60% to 80% of Market Rates

[Financial News] Seoul Housing & Urban Development Corporation (SH Corporation) is launching a large-scale supply of Happy Housing to help stabilize housing for college students, young people, newlyweds, and others.
SH announced on the 28th that it will recruit tenants and reserve tenants for a total of 1,484 Happy Housing units, including Doosan We've the Prestige and Seoul REITs Happy Housing.
The supply includes 154 units in new complexes, including rebuilt apartments, 391 vacant units created by tenant departures and contract cancellations, and 939 reserve units. Happy Housing is offered at 60% to 80% of nearby market rates to ease the housing burden on people without homes. The maximum residency period is 10 years for college students and young people, 14 years for newlyweds with children, and 20 years for seniors and housing benefit recipients.
The average rental terms by unit size are about 64 million won in deposit and 250,000 won in monthly rent for units of 29 square meters or less, and about 173 million won in deposit and 660,000 won in monthly rent for units of 59 square meters or less. In particular, starting with this recruitment, applicants with children under the age of 2, born on or after August 28, 2024, will be given top priority when selecting priority-supply recipients, in support of efforts to address the low birthrate.
Applicants must be members of a household without a home as of the recruitment announcement date, August 28, and must meet criteria including monthly household income at or below 100% of the previous year's urban worker household average, total assets of 345 million won or less, and vehicle value of 45.42 million won or less.
Applications will be accepted through the SH online application system from September 9 to 11. Seniors and people with disabilities who have difficulty using the internet may apply in person at the corporation from September 10 to 11. The list of document-review candidates will be announced on September 21, final winners on January 29, 2027, and move-ins will begin sequentially in March that year.
Detailed information, including site layouts and floor plans, can be found on the SH website or by contacting the SH Call Center.

[email protected] Jeon Min-kyung Reporter