Seoul Metropolitan Government to Release 17,500 More Mirinae House Public Housing Units, Easing Deposit and Purchase Burdens

[Financial News] Seoul Metropolitan Government will supply an additional 17,500 households of its Mirinae House public housing program by 2030 to support newlyweds with housing stability, childbirth, and homeownership. It will also lower the initial housing cost burden for newlyweds by improving the deposit installment plan and the right of first refusal.
According to Seoul Metropolitan Government on the 1st, the city has supplied a total of 7,108 households since first launching Mirinae House in July last year through August this year. It plans to secure about 4,000 units a year and add 17,500 more households by 2030.
The city is also reviewing a plan to include households with children born before move-in when calculating eligibility for the right of first refusal. At present, benefits are granted based on children born after the date of the move-in recruitment notice, and since this year, children born before move-in have also been recognized for households with four or more children.
To reduce cases in which families struggle to raise funds, the city operates a deposit installment plan. Of the 533 Mirinae House contract holders from April to August this year, 489 households, or 92%, used the program, easing a total of 76.5 billion won in initial payment burdens.
The city believes that housing and childbirth support policies, including Mirinae House, have also affected increases in births and marriages.
Seoul's total fertility rate rose for a second straight year, from 0.55 in 2023 to 0.58 in 2024 and 0.63 last year. In the first half of this year, the number of births increased 18.7% from a year earlier, the highest growth rate among the country's 17 cities and provinces.
The number of marriages also rose for a third consecutive year from 2023 through last year, and increased 10.9% in the first half of this year from a year earlier.
In a survey of 216 Mirinae House residents conducted in January this year, 79 households, or 36.6%, said they gave birth after moving in. Another 84.7% said they planned to have children in the future.
The city said it will continue to refine Mirinae House's supply methods and purchase support system by reflecting residents' opinions and the results of program operations, rather than simply expanding supply. Through this, it aims to further strengthen a virtuous cycle in which housing stability leads to childbirth, long-term residence, and homeownership.
Seoul Metropolitan City Mayor Oh Se-hoon said, "If housing is unstable, it is difficult to plan for marriage and childbirth, and even if you have children, it is hard to raise them stably." He added, "We will make the housing ladder stronger so that newlyweds can have children and raise them with peace of mind while also dreaming of homeownership."
He continued, "Mirinae House is an innovative example of public housing that improves the quality of life for newlyweds by offering good locations and high-quality homes at reasonable housing costs, while also supporting the actual decision to have children." He added, "We will continue expanding high-quality public housing that is favored by low-income households and the middle class."

[email protected] Choi A-young Reporter