멈춰선 부동산 PF 사업장, 청년·신혼부부 ‘매입임대주택’으로 바뀐다

The government is pursuing a plan to convert troubled real estate financing (PF) project finance offices into rental housing for young couples and newlyweds. Based on the success seen in a pilot project last year, the government aims to expand the target project offices and types of rental housing to regularize the process. The Ministry of Land, Infrastructure and Transport, the Financial Committee, the Korea Land and Housing Corporation (LH), and the Financial Supervisory Service announced on the 26th that they are moving troubled PF project finance offices to become rental housing managed by LH.

These four agencies will meet on the 27th to review their progress and discuss ways to collaborate for the conversion of PF project finance offices to rental housing. The plan involves providing information on PF project finance offices interested in participating in the rental housing program to the Ministry of Land and LH, and finalizing the sale decision by the seller.

LH will then conduct a review and issue a rental housing agreement. Last year, the program only targeted operations with financial and project issues, but this year, it will be expanded to include operations delayed due to financing delays and those facing delays in commencement. The program will also include both newly-constructed and commenced operations.

The interest rates for PIK loans for PIK loans will be temporarily increased to 70% in the next year and 50% in 2028. LH's land acquisition aid funds will be expanded from 70% to up to 80% of the land cost. In metropolitan areas, the cost law will be applied to account for construction cost increases in the purchase price. The Financial Supervisory Service and LH have said that they have identified potential operations for the first round of review.

LH will hold a PF project finance office disposal information meeting on September 15th, where interested entrepreneurs and potential buyers can attend for consultations. National Land Agency Deputy Chief for Housing and Social Welfare, Jung Seo-taek, said that PF project finance offices are the fastest way to turn them into homes.

Finance Committee Chair, Kwong Yu-ri, said that this collaboration aims to address both the backlog of PF project finance offices and the supply of housing, and that the government will continue to work with related agencies to support the provision of affordable homes for ordinary citizens.