SH to Supply 1,381 Long-Term Lease Homes Under 'Shift'; Applications Open Sept. 14

[Financial News] Seoul Housing & Urban Development Corporation (SH Corporation) will recruit residents and reserve residents for 1,381 long-term lease homes, including major new apartment complexes in Seoul such as Cheongdam Le L and THE H Bangbae.
On the 31st, SH said it will post the notice for the 51st round of long-term lease home applications on its website from 4 p.m. that day.
Seoul’s long-term lease housing, known as 'Shift,' is a public housing program that provides homes to Seoul residents without housing ownership, with deposits set at less than 80% of nearby jeonse market rates. Residents can stay for up to 20 years without converting to ownership.
This round includes a total of 1,381 units: 291 new units across nine complexes and 1,090 re-supplied units across 70 complexes and districts. The re-supply quota also includes reserve residents.
The new supply consists of purchased long-term lease homes secured by the city through private reconstruction and redevelopment projects.
By complex, THE H Bangbae in Seocho District has the largest number, with 133 units of 59 square meters each. Cheongdam Le L in Gangnam District will offer 57 units of 59 square meters, while Yeongdeungpo Xi Dignity in Yeongdeungpo District will supply 36 units of the same size.
Other units include 24 at Ramian Leventus in Gangnam District, 20 at Hauterre Banpo in Seocho District, 9 at Doosan We’ve The Prestige in Guro District, 9 at Seongdong Xi River View in Seongdong District, 2 at the Imun 3 Complex Public Office Building in Dongdaemun District, and 1 at Urban Heim 102 in Jungnang District.
The re-supply pool consists of 705 SH-built homes in Segok and Magok Districts, 312 purchased homes such as DH Daechi Edelweiss and Maple Xi, and 73 units from Seoul REITs No. 3.
Applicants must be adult household members without a home and must reside in Seoul as of the date the recruitment notice is posted.
Income must be no more than 105% or 150% of the average monthly income of urban worker households, depending on the unit size and supply type. For dual-income households, the limits are 140% and 200%, respectively.
Total assets must not exceed 662 million won, and the value of a vehicle must be 45.42 million won or less. The income and asset thresholds are relaxed by up to 20 percentage points depending on the number of children born.
For general supply units of 85 square meters or less, rankings are determined by income, place of residence and the number of payments made into the comprehensive housing subscription savings account. For homes larger than 85 square meters, admission priority is determined by the deposit amount and the length of subscription.
Applicants for housing designed for vulnerable residents must meet the general eligibility requirements and additional criteria, such as being elderly or disabled.
Priority supply targets include seniors, people with disabilities, those supporting elderly parents, households with two or more children, and national merit recipients. Those who fail to qualify for priority supply are automatically moved to the general supply pool for the same complex and unit size.
Applications will be accepted online and in person. First-priority applicants can apply on Sept. 14-15, second-priority applicants on the 16th, and third- and fourth-priority applicants on the 17th.
However, if the number of first-priority applicants exceeds a certain multiple of the number of units available, later-priority applications will not be accepted. If there are three or fewer units, applications close once demand exceeds 500% of supply; for five or fewer units, the limit is 400%; and for all others, 300%.
Document review candidates will be announced on Oct. 14, and final winners will be announced on March 5, 2027. Residents of re-supplied homes are expected to move in after April 2027. The move-in schedule for new supply complexes may vary depending on construction progress and completion timing.
SH said, "Long-term lease housing 1 is a public housing program that provides homes to Seoul residents without housing ownership, with deposits set at less than 80% of nearby market rates, and it does not convert to ownership. We ask you to be careful about false rumors related to this program so that you do not suffer any damage."

[email protected] Choi A-young Reporter