2·4 housing supply to point out that there is no clues… “I didn’t announce it would overheat”

Greeting Sung-won Yoon, 1st Vice Minister of Land, Infrastructure and Transport[연합뉴스]

On the 5th, Seong-won Yoon, the 1st Vice Minister of the Ministry of Land, Infrastructure and Transport said, “The total amount of public development available in Seoul is 2.81 million households, and we have a list of 222 candidates.” Said.

Deputy Minister Yoon said this while explaining the ‘2 and 4 housing supply measures’ announced the day before (4th) after appearing on the’CBS Radio Kim Hyun-jung’s News Show’.

This measure is the 25th real estate policy of the Moon Jae-in government, and through government-led maintenance projects and new housing development, by 2025, new homes including 320,000 households in Seoul, 616,000 households in the metropolitan area, and 220,000 households in the five metropolitan cities. It is planning to supply 16,000 households (based on site securing).

However, it was pointed out that the results of the specific project site selection were missing and that there was no slogan. In response, Vice Minister Yun emphasized, “I do not want this measure to be linked to a specific region. If we announce it now, of course (the market) could overheat.”

At the same time, he drew a clear line for blocking speculative forces. Deputy Minister Yun emphasized, “People who bought land or buildings in the area where the project will be implemented after the plan is announced do not have the right to pre-sale apartments. They will be compensated in cash.” He added, “If the prices of regions that are likely to be candidates are carefully checked for market trends and prices have risen by 10-20%, we will not proceed with business.”

Public maintenance projects led by the government are carried out by public companies such as Korea Land and Housing Corporation (LH) and Seoul Housing and Urban Corporation (SH). In fact, even the role of the union will be played by these public enterprises. Deputy Minister Yun explained, “There is no association, but we make a resident representative meeting to hear the opinions of the residents.” The construction company apartment brand can be used, and the use of high-quality materials and the installation of convenient facilities such as swimming pools will be left to the judgment of residents.

Through this countermeasure, the government emphasized the advantage of preventing monopoly of development profits and speeding up business progress if public enterprises lead. In addition, it announced that it would provide incentives for land owners to participate in public maintenance projects. Exemption from the reconstruction over-return system and the obligation to live for two years for members, and a 10-30%p higher rate of return than before, and additional profits such as preferentially supplying apartments and shopping malls are also planned.

However, it is expected that the Gangnam reconstruction complex with good business feasibility will be lukewarm in participating in the project.

Accordingly, Vice Minister Yun said, “I gave three options to the members this time. The first is to focus on the union as it is now, the second is public redevelopment and reconstruction, and the third is the public single implementation.” It gets bigger. If you don’t like the public, you can do as it was.” In addition, when asked, “Do you have many business-related inquiries from reconstruction associations such as Gangnam?”

Reporter Kim Won [email protected]