South Korea to deliver 1.19 million public sale and rental homes by 2030
The government announced a plan to provide 1.19 million public sale and rental units by 2030, chiefly in the Seoul metropolitan area, to ease housing affordability.
On Monday, the Ministry of Land, Infrastructure and Transport presented a housing stabilization plan that seeks to provide 1.19 million public sale and rental homes through 2030, focusing largely on the Seoul metropolitan region where demand is strongest. The scheme targets low-income households, young people and newlyweds struggling with soaring home prices, and plans to deliver roughly 240,000 units each year. About 77 % of the new homes will be built or allocated in the Seoul area, accounting for roughly 13.6 % of South Korea’s 8.71 million rental units recorded in 2024.
Delivery will involve constructing new units on public land, purchasing privately built houses for conversion to public rentals, and using existing private-sector housing stock. Officials say the measures are intended to broaden affordable housing options for those without property and ease entry into the private market. The initiative reflects the government’s broader effort to stabilize housing costs amid persistent price pressures.
Why it matters
Expanding affordable housing aims to curb soaring home prices and improve access for low-income and young households in Seoul.
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