LH will purchase 43,000 new private housing units this year and use them as rental housing

2022 private construction housing purchase agreement project
For private apartments under 85㎡, multi-family, etc.

File photo

Korea Land and Housing Corporation (LH) announced on the 5th that it will purchase a total of 43,000 houses this year through private new construction purchase agreements. The private construction housing purchase agreement method is a project in which LH enters into a purchase agreement for a house planned or under construction by a private business operator, purchases it after completion, and uses it as a purchased rental housing. Unlike the existing method of purchasing a house that has been completed, a purchase agreement is signed before the construction is completed and LH directly inspects the major construction process. Through this, overall housing quality can be expected to improve, and private businesses can reduce the burden of financing with the contract paid by LH while resolving the risk of unsold and unsold properties. Targets for purchase are multi-family houses, apartments, row houses, urban living houses, and residential officetels with a residential area of ​​85 square meters or less for each household across the country. The purchase price of a home is the appraised value. In order to ensure fairness and transparency in the housing purchase process, LH restricts the purchase of housing for retired employees and their families who are currently employed at LH or who have been retired for less than 5 years. LH plans to accept purchases from time to time throughout the year until all necessary quantities are secured, and to provide various incentives to increase the participation of private businesses. By Choi Jong-hoon, staff reporter [email protected]


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