Gyeonggi Province Advances Research on 'Fair Housing Model' for Youth and Newlyweds

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

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

The research will analyze the structure and operational cases of domestic and international public-led housing models, including land-leasehold housing—where the public retains land ownership while selling only the building—as well as profit-sharing models, equity-building models, and long-term public rental housing.

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

In particular, the research will compare the advantages and disadvantages of each model regarding housing supply prices, residence periods, and asset-building methods, and examine their applicability to Gyeonggi Province's housing market and business conditions.

This research was launched in response to the judgment that as housing prices and living costs continue to burden the Seoul metropolitan area, securing stable housing and purchasing homes for youth and newlyweds are becoming increasingly difficult.

The province will examine the feasibility and implementation methods of the Gyeonggi-style housing model based on research findings, and will also explore the possibility of pilot application in connection with housing projects of Gyeonggi Housing and Urban Development Corporation (GH).

Lee Myung-seon, Director of the Spatial Strategy Division at Gyeonggi Province, stated, "What youth and newlyweds need is not merely to increase housing supply, but to expand options that allow them to reside stably at affordable rates while building assets," and added, "We will specifically examine whether a housing model suited to Gyeonggi's conditions can translate into actual projects."