Joint presentation of real estate policy related organizations
Announcement of the progress of the 5·6 and 8·4 supply measures for the 3rd new town
The government’s real estate-related ministries held a joint briefing session on the 18th and announced that supply measures are being smoothly implemented. View of apartment in Seoul./ Photo = Yonhap News
On the 18th, the government emphasized that to stabilize the real estate market, measures such as public maintenance projects such as public redevelopment, revitalization of housing supply in the station area, and promotion of pre-generation policies will be carried out without a hitch. To this end, the company plans to focus on new housing sites such as the 3rd new town and expand public redevelopment projects.
On this day, the government held a joint briefing session on real estate, reported on the progress of real estate policies such as measures against June 17, July 10, and 8.4 last year, and established future plans. The Ministry of Strategy and Finance, Ministry of Land, Infrastructure and Transport, Financial Committee, National Tax Service, National Police Agency, Financial Supervisory Service, and Seoul City attended.
Until now, the government has implemented real estate policies under the principle of eradicating speculative demand and protecting end-users, but said it is “regrettable” that the market has not stabilized. In this joint briefing, the government summarized and announced measures focusing on supply expansion rather than regulation.
“Scheduled to pre-subscribe to the 3rd new city from July”
The Ministry of Land, Infrastructure, and Transport has completed the designation of five districts, including Namyangju Wangsuk, Hanamgyosan, Incheon Gyeyang, Goyang Changneung, and Bucheon Daejang, in connection with the creation of the 3rd new city. Said there is. Hanam Gyosan and Incheon Gyeyang explained that the process is progressing more than three years faster than the previous Bogeumjari project, such as commencing land compensation at the end of last year.
All measures to improve metropolitan transportation in these areas have also been confirmed. The Ministry of Land, Infrastructure and Transport plans to promptly complete follow-up procedures such as a preliminary feasibility study for public institutions so that the third new city transport project can be completed in a timely manner.
Kim Hong-jin, head of the Ministry of Land, Infrastructure and Transport, the head of the housing and land office, explains the real estate policy implementation status and future plans at a government joint briefing on the real estate market held at the briefing room of the Ministry of Strategy and Finance at the Government Complex Sejong on the 18th. /News 1
The new housing site of 48,000 households, announced by the government through the residential welfare roadmap, has completed the district plan establishment and is undertaking construction in turn. Accordingly, 6300 households in the Guri-galmae Station area, etc. will begin the subscription schedule this year. New residential areas in the city center, such as the Yongsan Maintenance Window in Seoul, Taereung CC, and Gwacheon Office, announced through the 5·6 and 8·4 measures last year are under development. The Ministry of Land, Infrastructure and Transport is conducting consultations with related agencies and local governments to improve the convenience of local residents.
From July this year, pre-subscription for the 3rd new town will also begin. Starting with Gyeyang in Incheon, Namyangju, Seongnam, Uiwang, etc. will proceed in order to supply 30,000 households in the second half and 33,000 households next year. The government’s basic policy is to discover new housing sites so that new housing sites can be supplied in a timely manner and additional housing can be supplied at any time.
As a plan for the government to expand supply in the city center, the public redevelopment project mentioned in the 5-6 measures last week selected eight candidate sites for pilot projects. For the existing maintenance areas, Heukseok 2 in Dongjak-gu, 13-14 Yangpyeong in Yeongdeungpo-gu, 1-6 Yongdu 1-6 in Dongdaemun-gu, Shinseol 1, Bongcheon 13 in Gwanak-gu, 2-12 Sinmun-ro 2-12, Jongno-gu, Gangbuk-gu, Gangbuk-gu, etc. I plan to do it. For new areas other than existing maintenance areas, candidate sites will be announced at the end of March.
The public reconstruction project mentioned in the 8·4 measure by the government is in communication with the pre-consulting response complex to finalize the candidate site. Secondary consulting for recruitment of additional complexes is also planned.
Seoul “planned to supply 83,000 households including public lease”
Follow-up measures will be followed according to the’Residential Stability Plan for the Low and Middle Class’ announced on November 19 last year. Earlier, 19,000 households out of public rental vacancy were supplied to the existing targets on a charter basis. For 20,000 households, the income and asset standards will be greatly eased and supplied in a chartered form. For 14,000 households supplied by Korea Land and Housing Corporation (LH) for three days from this day, applications for recruitment of integrated tenants nationwide are accepted. This recruitment amount can be moved in from February and can live for up to 6 years at a price of 80% or less compared to the market price.
The city of Seoul is planning to supply 83,000 households, including 24,000 households for public lease this year. The policy is to promote public maintenance projects such as public redevelopment, revitalization of housing supply in the station area, and pre-generation measures without any problems. Public small-scale reconstruction, a so-called’mini-reconstruction’ for small complexes of less than 200 households, is newly introduced. When the law is revised, the pilot project will begin in earnest from the second half of the year. Through this, the current plan is to expand the supply of 5,800 houses to 10,000 by 2023.
In the morning, a real estate agent is watching a live broadcast at a press conference for President Moon Jae-in’s New Year at a real estate agent office in downtown Seoul. / Photo = News 1
The city of Seoul is also promoting complex development and station area development using idle land. Construction of 90,000 households of public housing is underway in a total of 127 business sites. Last year, a total of 7084 units were completed, including 6 complexes in Godeokgangil District and 9 complexes in Magok, and 1699 units including Yangwon District, Seoul Hwigyeong, and Segok 2 will be completed this year.
In order to supply housing that utilizes the station area, the target area of the station area has been expanded from the existing 20 areas to all 307 areas. The range of the station area where high-density development is possible has also been extended from 250m to 350m. An administrative support system is also established, such as operating a’station area preliminary review group’ for smooth business promotion. Through this, it is planned to provide an additional supply of 8,000 households by 2022 and about 22,000 households by 2025.
The city of Seoul is also planning to actively introduce equity-equipped pre-sale houses as an alternative to’lotto pre-sale’. The public pre-sale housing provided by the Seoul Housing and Urban Corporation (SH) plans to be converted into equity-equipped pre-sale housing and supplied. It is predicted that it will be able to supply a total of 17,000 households, including 1150 households by 2023 and 15900 households by 2028. In addition, on the 15th, it announced the integrated purchase of 1,500 units of public jeonse housing and 6,000 units of jeonse-type housing announced in November.
Meanwhile, President Moon Jae-in said in a press conference that day, “In the metropolitan area, especially in downtown Seoul, public sector participation and initiative are further increased, incentives are strengthened, and procedures are greatly shortened. Through public redevelopment, station area development, and bold development of new residential areas, “We will increase supply beyond the level expected by the market,” he said. “We will include these details in the supply plan to be announced in February.”
Hyewon Ahn / Reporter Hana Kim [email protected]