[Incheon] 'Cheonwon House' for newlyweds begins to supply next year

The Incheon Metropolitan Government is speeding up preparations for a project to supply 1,000 won per day of rent to local newlyweds starting next year.

The Incheon Metropolitan Government signed a supply agreement with the Incheon Metropolitan City Corporation (iH) today after completing administrative procedures by drawing up related budgets and consulting with the Ministry of Health and Welfare to establish a social security system.

The Incheon Metropolitan City Corporation has begun working-level preparations for recruiting tenants of 1,000 won housing, and will recruit rental housing sequentially, starting with purchase rental housing.

Purchased rental houses are public rental houses owned or purchased by the public corporation, and jeonse rental houses are supported by the city signing a jeonse contract with the landlord if the applicant chooses a commercial house.

Cheonwon Housing plans to supply 1,000 households annually for up to six years based on the first two years for newlyweds or prospective newlyweds in Incheon within seven years of marriage.

The Incheon Metropolitan Government analyzed that the monthly rent of 1,000 won housing is 4% of the average monthly rent of private housing in the city and 760,000 won.