The Seoul Metropolitan Government has provided over 105,770 public rental housing units to housing vulnerable groups over the past five years through its public rental housing project. Considering that the average number of people per household averages 2.5 in Seoul, over 240,000 residents have benefited from the public rental housing project.
The SMG implemented the public rental housing project in 1989 with an initial supply of 640 public rental housing units. Since then, a total of 258,634 public rental housing units have been supplied, with one-third (80,101) of them having been supplied in the last five years. The budget spent during that same time period amounts to KRW 3.6717 trillion.
The increase in the supply of public rental housing units was followed by the rise in ‘public rental housing in-stock rate,’ an important index for identifying the residential stability of housing vulnerable groups. Last year, the rate exceeded 7% (5.18% in 2011 to 7.04% in 2016) and came close to the OECD average (8% in 2014).
After Mayor Park Won-soon entered office, the public rental housing project shifted away from merely providing enough units to creating consumer-tailored rental housing. A total of 1,819 (2,364 households) customized rental housing units were supplied as Start-up Housing (office and residential space for young entrepreneurs), Safe Medical Housing (housing for seniors and patients), Safe Women Housing (single housing for women with an enhanced security system), Lone Seniors Housing (housing for seniors who live alone), and Artist Coop (housing that allows artists to focus on their artistic endeavors).
The SMG also provides ‘Resident Community Space’ inside public rental housing complexes featuring a daycare center, book café, town hall, and community rehabilitation center. In 2017, the SMG plans to supply a total of 15,000 public rental housing units including customer-tailored housing (450 units), 7 complexes in Godeok-Gangil District (4,935 units) and Jeongneung Public Housing Complex (170 units).