Seoul expands public housing as long-term jeonse contracts begin expiring

  • Seoul is expanding Mirinae House for newlyweds and middle-income non-homeowners while maintaining conventional public rentals.
  • The first 300-unit Mirinae House offering drew 17,929 applications, and cumulative supply reached 7,108 units through August this year.
  • About 9,300 long-term jeonse households are scheduled to leave between next year and 2031 as the 20-year limit begins expiring.

Seoul is broadening public housing through Mirinae House, a long-term jeonse program for newlyweds and middle-income non-homeowners, while the original 20-year long-term jeonse scheme begins reaching its residency limit. Introduced in 2024, Mirinae House has drawn strong demand, including 17,929 applications for 300 Olympic Park Foreon units, and cumulative supply reached 7,108 units through August this year. Seoul plans to secure about 4,000 Mirinae House units annually and add 17,500 by 2030. Separately, about 9,300 households are scheduled to leave long-term jeonse housing between next year and 2031, with recovered homes to be resupplied as Mirinae Homes, long-term jeonse units or other public rentals. Mayor Oh Se-hoon rejected extensions beyond the 20-year limit but said the city would review income, asset and unit-transfer rules and consider exceptional support for elderly or mobility-limited tenants.

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