Subway Station Area Housing Project for Young Adults is a program to deregulate public restrictions within areas close to subway stations in order to revitalize housing development and to supply it to young adults aged 20-39. As the policy is implemented, the Seoul Metropolitan Government is strengthening legal and administrative support so that private businesses can construct rental housing in station influence areas equipped with infrastructure. Supported businesses will contribute to solving problems of housing for young adults by constructing rental housing in areas around subway stations and providing it for lower prices than market prices.
Outside of the downtown core and other specialty regions such as Gangnam, there are areas with significant opportunities and adequate infrastructure, forming ideal locations for housing for young adults.
To gradually implement the policy beginning 2016 in order to provide a maximum of 200,000 public rental houses in station influence areas
To establish and implement related ordinances through consultations with City Council
Full-scale Implementation (to be provided from the 1st half of 2017)
To divide rental housing into public rental housing and semi-public rental housing
Category | Supplier | Supply Rate | Residential Area | Description |
Public Rental Housing | SMG | 10-25% | 45 ㎡ or less | 60-80% of nearby market prices |
Semi-public Rental Housing | Private Businesses | 75-90% | 35 ㎡ or less | • Mandatory lease term: 8 years • Increase rate of rent: 5% or less per year |
To upgrade class 2 and 3 general residential areas around stations
Use Area | Site Area | Other Requirements |
Commercial Area | 1,000 ㎡ or more | • 2 conditions out of areas around intersected stations, bus-only lanes, and roads 30 m or wider • Areas adjacent to commercial areas • Class 3 residential, semi-residential areas |
Semi-residential Area | 500 ㎡ or more | • Areas around roads 30 m or wider • Areas adjacent to semi-residential areas • Class 2 and 3 residential areas |
Floor Area by Use System
A system to lower total floor area as housing rate increases
To simplify administrative procedures (assessment, approval, etc.) according to projects
Project | Description |
Housing rental business promotion zones (Site area of 5,000 ㎡ or more) |
Integrated approval for designation as a promotion zone, approval of the plan, and approval of housing project |
Outside promotion zones | The SMG draws up and implements the project. |
Urban redevelopment zones | The areas covered by the housing project for young adults in station influence areas are regarded as potential zones for the urban redevelopment master plan. |