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Busan Widens Eligibility and Locations for ‘Hope Plus Housing’ Project to Support Housing Stability for Youth and Seniors

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The Busan Metropolitan City (Mayor Park Heong-joon) announced that it has prepared a plan to expand the Hope Plus Housing project, one of the key pledges of the 8th popular election, aimed at supporting housing stability for youth and newlyweds, and will begin active implementation starting in July.

‘Hope Plus Housing’ is one of Busan’s flagship youth housing policies that provides affordable rental housing in well-located areas near transit hubs. It includes community facilities tailored to young people and offers excellent transportation access, resulting in strong rental demand.

○ As of June 2025, 16 sites and 4,812 units are in progress under the Hope Plus Housing initiative.
 – 4 sites (1,108 units) have been completed, and
 – 5 sites (1,145 units) are under construction.
 Despite high demand among youth and growing interest from seniors, project expansion has slowed.

To address this, the city plans to significantly improve project eligibility and supply methods.

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Key Expansion Measures

1. Expanded Project Scope

Previously limited to transit-adjacent commercial zones, the eligible areas will now include:
– All commercial areas
– Residential and quasi-residential zones (Type 2 & 3), quasi-industrial areas
– Sites with convenient public transport access
– Areas adjacent to major roads

2. Relaxed Building Restrictions

If designated as a facilitation district, the city may:
– Rezone to higher-density land use
– Approve zoning and construction permits simultaneously through Busan’s unified review system
 → Enabling faster project execution

3. Improved Construction Ratio

– Previously required 80% of the total floor area to be rental housing
– Now eased to 50%, aligning with existing regulations to encourage private participation

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Implementation Plans

• ●The city will amend the related ordinance on July 9, applying the eased building regulations immediately.

• ●A pilot project will be publicly announced, with evaluations based on:
   – Necessity of youth housing
   – Design suitability
   – Architectural aesthetics and public contribution

• ●Final site selections will be made by September.

○ The city will fully support the pilot to establish a leading model for youth housing supply.

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Future Policy Directions

• ●The city will commission a policy research study to:
   • Set objective selection criteria for future sites
   • Establish meaningful public contribution standards following regulatory relief
   • Calculate reasonable rental prices reflecting youth income levels
   • Analyze domestic and global case studies for easing zoning restrictions
   • Develop a standard housing model for target renters like youth and seniors

• ●The target tenant group will also be expanded to include seniors, proposing a senior-specific model tentatively called “Senior Hope Plus Housing – Silver Stay”
   → Designed to offer meals, healthcare, leisure, and emergency support for retirees

• ●Starting next year, part of the Hope Plus Housing units will be publicly purchased,
   ensuring public rental housing stock even for privately developed buildings
   → Secured via public contribution benefits such as Floor Area Ratio (FAR) relaxation

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Mayor’s Remarks

Mayor Park stated:

“This expansion plan will not only enhance housing stability for youth and seniors,
but also revitalize the local construction industry, which has been struggling amid a prolonged market slump.
We will continue to pursue customized housing policies that meet the needs of diverse generations.”