SH to Recruit Tenants for Redevelopment Rentals in 162 Seoul Complexes, Including Station Areas and New Builds

Redevelopment rental housing in major station areas and near the Han River within Seoul will be supplied on a large scale. SH is recruiting tenants and prospective tenants for a total of 162 complexes, amounting to 3,821 households, targeting low-income residents of Seoul.

Including major location complexes such as Gangdong, Wangsimni, and Songpa... New apartments also being supplied

According to the Rental Information TV video, many complexes with excellent location conditions are included in this supply. Dong-A Core, Taeyoung, and Samsung Apartments located in Cheonho-dong, Gangdong-gu, are in station areas of Subway Line 5, with amenities such as department stores and large marts concentrated nearby. In particular, Dong-A Core Apartment is a residential-commercial complex with a 1.5-room structure, with a deposit of 10 million won and a monthly rent of around 140,000 won. By utilizing the mutual conversion system, the monthly rent can be lowered to as much as 60,000 won.

Lacervo Prugio Summit Daewoo near Wangsimni Station is a newly built apartment completed in 2025, located in a transportation hub where four lines—Line 2, Line 5, Gyeongui-Jungang Line, and Bundang Line—can be used. The rent for a 36㎡ (separated studio) unit in this complex is around 27 million won for the deposit and 160,000 won for the monthly rent. Upon mutual conversion, if the deposit is lowered to 11 million won, the monthly rent is adjusted to 200,000 won.

Songpa Signature Lotte Castle near Macheon Station in Songpa-gu is also a notable complex. As a 5-year-old new complex, it applied a car-free complex design, and its future value is expected as the Mirae Line and Starfield are scheduled to open nearby in the future. It is supplied at a level of around 35 million won for the deposit and 170,000 won for the monthly rent based on 36㎡.

Low rents under 100,000 won per month... Burden eased through mutual conversion

The biggest feature of this recruitment is the very low rent level. The video explained that despite being Seoul apartments, there are many complexes where the monthly rent is less than 100,000 won, and depending on the conditions, it can be lowered to the 40,000 won or 50,000 won range. There are also complexes where the deposit can be lowered to below 10 million won or even below 5 million won through mutual conversion to move in.

The 'mutual conversion' method can be actively used to reduce the rent burden. This is a method of increasing the deposit to lower the monthly rent, or conversely, lowering the deposit and increasing the monthly rent. Most of the supplied areas consist of studio, 1.5-room, and two-room structures of 40㎡ or less.

Targeting non-homeowners residing in Seoul... 1st priority applications start September 29

The application eligibility is limited to members of non-homeowning households residing in Seoul. Residents of other regions cannot apply. Income standards are applied differently according to priority. For the 1st priority, the monthly average income must be 50% or less (2.66 million won or less for a 1-person household, 3.51 million won or less for a 2-person household, and 4.8 million won or less for a 3-person household), and the 2nd priority must meet 70% or less. The asset standard must be a total asset of 345 million won or less and a car value of 45.42 million won or less.

When competition occurs within the same priority during tenant selection, supply is provided in order of higher points, which include the number of dependents, number of minor children, continuous residence period in Seoul, whether elderly parents are supported, and the number of subscription savings account payments. However, there are no separate points based on age.

Regarding the application schedule, 1st priority applicants must apply through the SH internet subscription system between September 29 and October 2. 2nd priority applicants can apply on October 8. The announcement of those subject to document submission is October 23, and the final winner announcement is scheduled for March 30, 2027. If the number of applicants exceeds 200% of the recruited households, applications for subsequent priorities may not proceed.