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Land transaction rules return / KBS 2025.03.19.

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[Anchor] Is this how real estate policy should be? After just a month, the real estate regulations that were relaxed have been reinstated even more strictly. Faced with soaring apartment prices in Seoul, the authorities have admitted defeat. While regulations were lifted for fewer than 300 complexes, more than 2,000 will now be designated as land transaction permission zones. Buying apartments with jeonse (a type of lease) will be prohibited in Yongsan and the three districts of Gangnam. First, Lee Seung-cheol reports. [Report] The land transaction permission zones have returned after 35 days, and their scope have significantly expanded. On the 13th of last month, the Seoul city government lifted restrictions on 291 apartment complexes in Gangnam and Songpa. This time, in addition to Gangnam and Songpa, Seocho and Yongsan have also been included, making all apartments in these four districts part of the land transaction permission zon …...more
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Land transaction rules return / KBS 2025.03.19.
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107Views
Mar 192025
[Anchor] Is this how real estate policy should be? After just a month, the real estate regulations that were relaxed have been reinstated even more strictly. Faced with soaring apartment prices in Seoul, the authorities have admitted defeat. While regulations were lifted for fewer than 300 complexes, more than 2,000 will now be designated as land transaction permission zones. Buying apartments with jeonse (a type of lease) will be prohibited in Yongsan and the three districts of Gangnam. First, Lee Seung-cheol reports. [Report] The land transaction permission zones have returned after 35 days, and their scope have significantly expanded. On the 13th of last month, the Seoul city government lifted restrictions on 291 apartment complexes in Gangnam and Songpa. This time, in addition to Gangnam and Songpa, Seocho and Yongsan have also been included, making all apartments in these four districts part of the land transaction permission zones. A total of 400,000 households in 2,200 complexes are affected. In response to the 'abnormal' rise in apartment prices in Seoul, Mayor Oh Se-hoon has ultimately apologized. [Oh Se-hoon/Mayor of Seoul: "I humbly accept the criticism that the volatility of the real estate market has increased, particularly in Gangnam. I sincerely apologize to the citizens for the concerns this has caused."] With clear signs of market instability, the decision was made to completely block gap investments in the four districts, as house prices may rise further. The government is also signaling even stronger regulations. By the end of September, the designation of land transaction permission zones, which lasts for six months, can be extended, and the addition of speculative investment overheated zones in adjacent areas like Mapo and Seongdong is also under consideration. Although it was said to be self-regulation by the financial sector, household loans are also being tightened. The scale of household loans in areas with rising house prices will be managed, and the sources of funds will be investigated regularly. [Park Sang-woo/Minister of Land, Infrastructure and Transport: "For areas where there are concerns about overheating due to speculative demand, we plan to proactively respond by reviewing various household loan management measures."] The land transaction permission zone system, which has expanded to cover 27% of Seoul's area, has faced criticism for being a hasty policy decision that has only led to an expansion of regulations. This is KBS News, Lee Seung-cheol. ▣ KBS 기사 원문보기 : http://news.kbs.co.kr/news/view.do?nc... ▣ 제보 하기 ◇ 카카오톡 : 'KBS제보' 검색 ◇ 전화 : 02-781-1234 ◇ 홈페이지 : https://goo.gl/4bWbkG ◇ 이메일 : kbs1234@kbs.co.kr Copyright ⓒ KBS. All rights reserved. 무단 전재, 재배포 및 이용(AI 학습 포함) 금지

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