The late’half-price apartment’ vs. the’private reconstruction activation’
‘Park Young-sun vs. Oh Se-hoon’. With the completion of the 4·7 Seoul Mayor’s by-election bracket, attention is also being drawn to the real estate policy pledges of candidates from the opposition and opposition parties.
The real estate problem has emerged as the biggest pending issue in the current government, from housing supply problems earlier this year to the recent land speculation by employees of the Korea Land and Housing Corporation (LH). Accordingly, both parties are pouring out anti-speculation measures one after another. In addition, the ruling and opposition candidates promised to stabilize house prices by expanding the supply of housing. However, the supply body is divided into’public for the ruling party and private for the opposition party’, and the decision is different.
Democratic Party candidate Park Young-sun and People’s Power Candidate Se-hoon Oh are concentrating their efforts on’real estate pledges’, seeing that real estate issues such as the LH crisis will have a decisive effect on the outcome of the Seoul Mayor’s by-election.
In fact, both the opposition and opposition candidates are emphasizing’eradicating land speculation’ with one voice after the LH crisis.
Candidate Park announced on the 14th that “I will investigate the real estate ownership status of all employees of the Seoul Metropolitan Government and its affiliated public institutions immediately after taking office.” In addition, he said that a special examination (special examination) related to LH should be promoted. In response to this, Candidate Oh confronted that, “The special prosecutor is a time earning show,” and “(LH incident investigation) a’joint prosecutor’s office’ should be launched, in which the prosecution directs the police investigation.”
In addition, both candidates promised to expand the supply of housing in Seoul through the real estate’Pledge No. 1′. As house prices in Seoul have soared since last year, both candidates seem to be striving to stabilize house prices.
▲ As the 4·7 Mayor of Seoul by-election bracket is completed, interest is also focused on real estate policies for each candidate. Park Young-sun (left) and Oh Se-hoon (right), candidate for the strength of the people, who were elected as a single candidate for the Democratic Party and opposition parties. (yunhap news)
However, the approach is the exact opposite. Candidate Park emphasizes public pre-sale policies such as’half-price apartments’ led by the public such as LH and Seoul Housing and Urban Corporation (SH). On the other hand, Candidate Oh emphasized the revitalization of private maintenance projects according to the deregulation of reconstruction and redevelopment so that the private sector can lead the supply.
Candidate Park’s “half-price apartment” pledge is achieved through land rental housing supply. Land rental housing is one of the’public self-owned houses’, in which a public institution owns the land and gives only the ownership of the house to the seller. The seller pays the rent of land in the concept of monthly rent to public institutions. Sellers need only pay the price of the house, excluding the land price, so they can receive the sale inexpensively. In order to expand the supply of public housing, the government previously decided to supply public self-owned housing on a large scale to the 3rd new city. If Park is elected, it is expected that many public private housing units will be supplied to Seoul as well.
On the other hand, Candidate Oh focused on private supply through reconstruction and redevelopment activation. He declared that he would supply 360,000 households to Seoul over the next five years. Of these, more than 180,000 households will be supplied through private reconstruction and redevelopment. In addition, it has also made pledges to revitalize the private supply, such as increasing the floor area ratio for residential areas in Seoul, easing regulations on the number of floors, and abolishing regulations on the 7th floor or lower in general residential areas.
However, the general opinion of experts is that it is unlikely that major real estate pledges drawn up by the opposition candidates will be realized. This election is held as a by-election, and the term of office is only one year and three months. In addition, some point out that the supply of half-priced apartments in Seoul and various deregulations must go through consultations with the government, which is beyond the market authority.
KB Kookmin Bank’s senior real estate expert Park Won-gap said, “More than half of real estate pledges are outside the authority of the mayor of Seoul, and sensitive issues must be agreed with the government.” Said.