| Types of rental housing (ordinary foreigners) |
| Rental housing may be classified into apartment houses, town houses, officetel units and studios; and their |
| rental terms may be classified into rental without deposit, advance rent payment, monthly rent lease and |
| deposit only lease. |
| |
| * Rental without deposit |
| Lease with monthly rent paid before the month starts, while a nominal deposit (advance deposit of |
one month's rent) is made at the time of lease.
|
| * Advance rent payment |
A monthly sum of rent for a given period (one year) is paid in advance.
|
| * Monthly rent lease |
| Most popular lease terms for studios. Monthly rent is paid when the month elapses, while a nominal amount |
of deposit is paid at the time of lease.
|
| * Deposit only lease |
| Residential unit (house or apartment) is leased based on a large deposit amount that the lessee lends to the |
lessor and on which no interest is payable. Instead, the lessee does not pay any rent.
|
Rental House Types (available to foreigners who obtain Korean nationality)
|
| * People Rental Housing |
| Publically funded rental houses leased by the Korea Housing Corporation or the Seoul Housing Corporation |
| (municipal corporation) for 30 years or longer. These houses are constructed with central or local government |
| funding or the National Housing Fund (including funds raised by lottery programs) in order to provide low-cost |
housing to eligible citizens.
|
| * Deposit only lease |
| Seoul City Government leases existing vacant houses under a deposit only lease contract from their owners |
and re-leases them to low-income families so that they may continue to reside within the same community.
|
| * Public rental housing |
| - 5-year public rental housing : Houses with 83.66㎡or less floor area whose ownership title can be acquired |
when the five-year rental period elapses.
|
| - 50-year public rental housing : Lease contract is renewed every two years up to 50 years. Ownership |
acquisition is not allowed.
|
| * Permanent rental housing |
| Public rental house leased permanently at favorable rental terms |
| (limited deposit and relatively low monthly rental). |
