jasdooit

The number of applicants awaiting availability in construction-style public rental housing provided by the Korea Land and Housing Corporation (LH) has surpassed 90,000, yet this year’s available units for occupation are expected to be approximately 7,800 households. Opponents suggest that essential actions must be taken to speed up the provision of public housing in order to enhance housing support for young individuals and those with lower incomes.

As per information provided by LH to Representative Lee Jong-wook of the People Power Party on the 14th, by the end of last year, a total of 93,497 individuals across the country were on the waiting list for construction-type public rental housing, including permanent rental, national rental, Happy, and integrated public rental housing. In comparison, the number of units planned for occupancy this year in these categories amounts to 7,779 households, which represents roughly 8.3% of the current waiting list. At this rate of supply, and assuming no rise in the number of applicants, it would take 12 years to accommodate all those on the waiting list.

In Seoul, 3,061 individuals were on the waiting list for housing last year, but this year only 219 units are available. In Incheon, 7,605 people applied, yet the supply of 2,092 units was less than a third of what was needed. Eight major cities, such as Busan, Daegu, Gwangju, and Ulsan, stated that there are no public rental housing units available for occupancy this year.

Because of the imbalance between supply and demand, waiting times for housing have extended beyond ten years in certain situations. The maximum wait for permanent rental housing in Incheon was 16 years and 5 months, while national rental housing in Gyeonggi Province took 11 years and 11 months, and permanent rental housing in Seoul required as long as 8 years and 10 months.

Representative Lee Jong-wook said, “Public rental housing needs to act as a basic housing safety net for those with low incomes and young individuals, but if people have to wait more than ten years, it doesn’t meet its purpose.” He highlighted, “Measures to improve the situation, including actively locating suitable sites for public housing, should be put in place.”

• Monday 5900 won membership, 2900 won for newspaper readers, Chosun Membership
• 8 titles of newspapers and magazines worth 55,000 won, enjoy unlimited reading – Chosun Membership
• Receive 7000 points to use like cash, shop wisely, Chosun Membership