The government is promoting a social housing policy to meet the housing needs of young people and the disadvantaged, which will not only help achieve housing justice but also build a sound residential home market. To increase the supply of social housing, the objective is to make available 200,000 social housing units (including 120,000 newly constructed homes and 80,000 units subleased from private owners or managed on their behalf) over the eight-year period from 2017 through 2024. Further, the introduction of the managed subleasing scheme creates a balancing mechanism between the home rental and purchase markets, which in turn will stabilize supply and demand and further protect the public's right to housing.
■ The Housing Act has been amended to provide a legal basis for promoting the social housing policy. In accordance with the act, the central government also assists local governments with land acquisition, financing, taxation issues and the formation of implementation teams.
■ State-owned land or buildings not designed for public use may now be leased on a long-term basis or utilized without remuneration. Land owned by the Ministry of National Defense may also be used for social housing purposes. These measures have created more avenues for local governments to acquire land and resources.
■ To alleviate the financial burden on local governments, a social housing financing service platform has been created as a means of providing local governments with low-interest, long-term loans for social housing projects.
■ A professional subleasing and management services system has been created to help both parties to a lease handle rental housing matters, including day-to-day maintenance, rent collection, communication and mediation. This system will reduce the likelihood of lease disputes and create a friendly and appropriate rental housing environment. To expand public participation, more measures have been rolled out, such as allowing landlords and tenants to transition from a rental subsidy scheme to a subleased or managed housing scheme, permitting physically challenged tenants to switch to a more accessible home, waiving certain household registration requirements, and raising the tax-free rental income threshold for landlords.
■ The National Housing and Urban Regeneration Center has been established to help the central government apply business principles to running social housing projects.
■ To build quality residences that people can appreciate, social housing units incorporate green and smart technologies, seismic-code standards, and accessibility features for people with disabilities. The homes are also linked to community child care and long-term care facilities.