On the 17th, the government held a meeting of ministers related to the real estate market inspection and announced all candidates for new public housing sites by the second quarter. Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance (far left) are speaking. News 1
Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance announced that he would announce all candidates for new public housing sites with a size of 263,000 households included in the ‘2·4 Real Estate Measures’ by the second quarter. The first candidate is expected to be released as early as the end of this month or early next month. Deputy Prime Minister Hong emphasized that the controversy over the’cash settlement’ that emerged after the announcement of the second and fourth measures was “constitutional party compensation.” In addition, even if it is developed by public initiative, the apartment brand can be decided by the residents.
○At the end of this month, ‘4th New City’ announced
Deputy Prime Minister Hong said about the new public housing site at the ’15th Real Estate Market Inspection Ministers’ Meeting’ held at the Seoul Government Complex on the 17th. I will do it.” It means that it will announce all 15 to 30 candidate sites for new public housing sites, which are 263,000 households out of the 2·4 measures of 836,000 households, in the first half. It is known that the first candidate site will be released as early as in late February or early March.
Among the 263,000 households, new housing sites in the metropolitan area occupied 180,000 households, which is equivalent to the total size of the third new city. The supply of the five previously announced 3rd new towns including Changneung in Goyang, Wangsuk in Namyangju, and Gyosan in Hanam is 172,000 households. For this reason, the market is accepting new public housing sites with the second and fourth measures as a de facto fourth new town.
The first vice minister of the Ministry of Land, Infrastructure and Transport Yoon Seong-won appeared on a radio broadcast that day and said, “Some of the new housing sites are large in size and are similar to those of the 3rd new city, and there are also medium-sized housing sites.” “We plan to designate districts in various sizes based on traffic accessibility by region.” Said.
Deputy Prime Minister Hong said, “If the 2·4 measures and the previously announced quantities are combined, 2,500,000 homes will be supplied by 2025,” and “the largest in the 2000s.” It is calculated that if you add 1.27 million households in the metropolitan area and 75,000 households in the previous generation among the previously announced measures to 836,000 households in the second and fourth measures, there will be more than two million households excluding 127,000 households in duplicate. Deputy Prime Minister Hong emphasized, “As there was an experience in which apartment sales prices in Seoul were adjusted sharply during the global financial crisis, now is the time for market participants to take part in the market with a cool mind.”
○“Cash liquidation is constitutional compensation for political parties”
Deputy Prime Minister Hong also reaffirmed the policy to liquidate cash without giving preferential supply rights if real estate in the public development project area is acquired after the announcement date of the second and fourth measures. According to the current land compensation law system, compensation for the property of the existing owner is based on cash compensation. Deputy Prime Minister Hong said, “Compensation that is implemented after appraisal is constitutional compensation.” “In case of acquiring real estate after the date of the announcement of the measure, the lack of priority supply right is to supply housing to the city center on a large scale, but to minimize short-term market anxiety at the beginning of the business. It was the result,” he explained.
They also refuted the point that the supply target for projects based on private participation, such as land owners, was set too large. Considering that the participation rate of public redevelopment projects was 25.9% last year, he said that the quantity was calculated by conservatively setting the expected participation rate by assuming the expected participation rate of public direct implementation maintenance projects to be 5-25%.
In addition, to the point that private autonomy is limited by public direct implementation maintenance projects, he explained that “a public-led fast track was proposed to increase the speed of housing supply while maintaining the existing cooperative-style reconstruction and redevelopment project track.” Deputy Prime Minister Hong said, “The landowners and cooperatives who have agreed to the project can directly select the desired apartment brand before the preferential supply contract.” “The construction company will be in charge of design and construction by reflecting the preference of the prospective tenant.” .
Reporter Jinseok Choi/Jinkyu Kang [email protected]
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