The program aims to provide affordable housing options for low-income residents in Seoul, with applications starting soon.
Category: Politics
Seoul Housing and Communities Corporation (SH, 서울주택도시개발공사) announced on April 27, 2026, that it will recruit tenants for 1,154 long-term rental housing units, a part of its 50th recruitment initiative. This program, known as SHift, offers public rental housing at prices below market rates, allowing residents to live in these units for up to 20 years.
The recruitment includes three new supply complexes totaling 125 units and 71 complexes for re-supply, amounting to a total of 74 complexes. The new supply consists of units located at Elip Mia Station in Gangbuk District (17 units), Hillstate Dongjak Signature in Dongjak District (91 units), and Bora Mae Station Precent in Dongjak District (17 units).
According to SH, the long-term rental housing program is aimed at providing stable housing for low-income residents of Seoul. The application criteria require that applicants must be adult members of households without homes currently residing in Seoul. They must also meet specific income and asset criteria, including a monthly income not exceeding 105% to 150% of the average urban worker's salary, depending on family composition, and total assets not exceeding 660 million won ($500,000).
For those applying for units of 85 square meters or less, priority will be determined based on household income, residence, and the number of times they have contributed to the comprehensive savings account for housing. For units larger than 85 square meters, priority will depend on the amount deposited in the account and the duration of membership.
The SH program has been met with enthusiasm among potential applicants, especially as rental prices in Seoul have reached historic highs. The average rental price for apartments in Seoul hit 681.47 million won ($515,000) in April 2026, marking an all-time high and intensifying the need for affordable housing options. The median rental price also surpassed 600 million won for the first time in over three years.
SH President Hwang Sang-ha (황상하) expressed confidence in the program, stating, "Long-term rental housing is a public housing project that provides reasonable deposit levels below the market rate, aimed at stabilizing housing for citizens. We will continue to work to alleviate the housing burden on citizens and provide a stable living environment." The recruitment announcement comes at a time when the demand for rental housing is increasingly outstripping supply in the capital.
As the rental market in Seoul tightens, the government has been under pressure to address the growing housing crisis. This initiative is part of broader efforts to stabilize the housing market and provide affordable options to residents facing skyrocketing rental prices. Experts suggest that the introduction of these long-term rental units could help mitigate the increasing pressure on the housing market.
Applications for the rental units will be accepted online and in person, starting with the first priority on May 13-14, followed by the second priority on May 15, and the third and fourth priorities on May 18. The selection results will be announced on June 12 for document review candidates and on October 27 for successful applicants.
The re-supply units are expected to be available for occupancy after December 2026, with the timeline for new units depending on their completion dates. Detailed application information will be available on the SH website from April 27, 2026.
As the city continues to grapple with housing shortages, this initiative is seen as a necessary step to provide relief to many residents struggling with high rental costs. It highlights the government's commitment to ensuring that all citizens have access to affordable housing solutions in the face of rising prices and limited availability.