Osan Sema Station Youth Lease-Purchase Housing Complex to Recruit 121 Residents in November
Gyeonggi Province and the Gyeonggi Housing & Urban Development Corporation (GH) announced on the 28th that they completed construction on the 10th of 121 units of lease-purchase rental housing developed in Segyo-dong, Osan City to support residential stability for homeless youth, and will recruit residents for move-in in November.
The newly completed housing consists of 121 units in a single building formatted as an officetels, located near Sema Station on Seoul Metropolitan Subway Line 1. The area is characterized by high residential convenience for young people, with commercial facilities, libraries, parks, and other living and cultural facilities nearby.
Rental terms are set at 30-50% of surrounding market rates depending on the income level of residents. The contract period is 2 years, and residents who meet eligibility requirements can extend the lease through renewal for up to 10 years.
Resident recruitment will proceed in November targeting homeless youth. Detailed recruitment schedules and application qualifications will be announced through the Gyeonggi Housing & Urban Development Corporation website and call center (1588-0466) at a later date.
This housing was supplied through the 'lease-purchase rental housing' method. Lease-purchase rental housing is a system in which the Gyeonggi Housing & Urban Development Corporation agrees in advance with developers to purchase private housing not yet constructed, then participates from the design and construction stages to manage quality.
Unlike the existing purchase method where public institutions acquire housing after construction is completed, this approach has the advantage of allowing public oversight of design and construction from the early stages of the project, enabling more systematic quality management of rental housing.
Kim Tae-soo, Director of the Housing Policy Division of Gyeonggi Province, said, "We hope this supply of lease-purchase rental housing will help reduce the housing cost burden on homeless youth and support stable residence," and added, "Going forward, we will carefully review location and housing quality to continue supplying high-quality lease-purchase rental housing where young people can reside with confidence."