Seoul, South Korea - Korea Land and Housing Corporation is planning to supply 20,528 purchased rental homes across all 25 districts of Seoul over the next three years as part of a broader effort to increase access to affordable housing.
The programme will primarily target younger residents and newly married couples, with 14,558 homes, or 70.9% of the total, designated for youth.
A further 3,398 units, representing 16.6%, will be allocated to newlyweds, while 2,572 homes, or 12.5%, will be available to other eligible applicants.
The planned distribution covers districts across the capital, including 1,920 units in Dongdaemun-gu, 1,900 in Guro-gu, 1,861 in Gangdong-gu and 1,638 in Gangseo-gu.
LH’s purchased rental housing model involves acquiring newly completed private homes or existing residential properties and leasing them to eligible households at below-market rates.
The corporation also purchases newly built homes under agreements with private developers, allowing units to enter the rental market relatively quickly after construction begins.
According to LH, tenants can typically move into these homes within one to two years of groundbreaking, making the programme a short-term tool for increasing housing supply in high-demand urban areas.
Demand from developers has also increased following changes introduced by LH in July.
Applications for newly built purchased rental agreements across the greater Seoul area rose 63% after the corporation strengthened upfront financial support for private developers.
Of the units contracted this year, LH plans to begin construction on at least 40,000 homes across the greater Seoul area, including 10,000 units within Seoul, before the end of 2026.
Move-ins for those homes are expected to begin by the end of 2027.
LH President Lee Seong-hun said: “We will intensively supply purchased rental housing in a short period in the greater Seoul area and Seoul for real-demand groups such as youth and newlyweds who can feel the difference, in line with the government's residential stability plan, by 2030.”
LH currently manages around 207,000 purchased rental homes nationwide, including 113,000 in the greater Seoul region and 34,000 in Seoul.
The new programme expands that portfolio while also creating additional construction demand through agreements with private developers supplying newly built homes to the public rental system.
