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Seoul city to spend 850 million U.S. dollars a year to increase housing support for newlyweds

2019-10-28 19 Dailymotion

Seoul city plans to spend two and a half billion U.S. dollars over three years in housing support for newlyweds.<br />The funding is set to begin next year, with 850 million dollars to be spent annually.<br />It's expected to help rougly 25-thousand couples each year for their first seven years of marriage.<br />The plan includes lowering the standard for financial support so that couples with a combined annual income of under 85-thousand dollars from the previous 68-thousand can apply for low-interest loans.<br />Other measures include building two-thousand more rental homes each year to 15-thousand.<br />The city also plans to support couples who have not legally registered their marriage.<br />

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