New urban land’generous compensation’ LH speculation board was raised
Government focuses solely on expanding housing supply
Special supply of apartments to land owners, etc.
Significantly raise the level of compensation for public housing
Anti-dumping measures remain the same as before
material photo” alt=”Gwangmyeong·Siheung district area. Gwangmyeong·Siheung district area. <한겨레> Material photo
It is pointed out that amid the suspicion of speculation by employees of the Korea Land and Housing Corporation (LH) in the new cities of Gwangmyeong and Siheung, the land and housing compensation plan, which the government has hurriedly applied from the third new city, focused on expanding the supply of housing, provided the soil that caused speculation. Comes out. In order to curb excess liquidity due to enormous compensation from public housing sites such as the 3rd new city last year, and to increase the speed of business, the government has greatly improved the compensation system, such as revitalizing compensation for land and expanding incentives for negotiated transfers. It is said that the incentives for speculation have also increased. Summarizing the words of the Ministry of Land, Infrastructure and Transport and the real estate industry on the 9th, the Ministry of Land, Infrastructure and Transport confirmed the’Compensation/Resettlement Support Plan for Existing Residents such as the 3rd New Town’ in May last year. This support plan was made by referring to the ‘3rd New City Liquidity Control Plan’, which LH had previously ordered for research services. The Ministry of Land, Infrastructure and Transport began improving the compensation system for public housing areas such as the 3rd new city at the time, including Gyeyang, Incheon, where compensation began last year, and 5 new cities in the metropolitan area (Gyeyang, Namyangju Wangsuk, Gyosan Hanam, Changneung Goyang, and Captain Bucheon) alone. This is because the side effects of rising real estate prices in neighboring regions due to excessive liquidity, such as the above compensation is expected to be released, were concerned. In addition, the realistic judgment that landlords need a satisfactory compensation support plan to reduce the collective backlash of residents that occur every time compensation for public housing, and to create and supply housing with a sense of speed. Accordingly, the Ministry of Land, Infrastructure and Transport has significantly increased the level of compensation for existing residents’ land and housing, which is divided into housing land for immigrants, compensation for land, and housing land for negotiated transfers. First, the housing land for immigrants provided to residents was added to the apartment complex in addition to the existing detached housing site, allowing residents to form a cooperative to build an apartment. In addition to the existing commercial and single-family dwellings, compensation for large land, which is provided as land instead of cash, also made it possible for apartment complexes. Daetoritz (real estate investment company), which LH participated in as an asset management company, built apartments on the apartment complex received by Daeto, paving the way for land owners to earn profits from sales.
Compensation for negotiated transferors who hand over all the land they own (over 1,000㎡ in the metropolitan area) to the project implementer at an appraisal price has also been expanded. Previously, the opportunity to draw a detached house site was provided, but only those without homes could choose a special apartment supply. The real estate industry is paying attention to the fact that the compensation method of real estate owners in the new city’s planned area has been diversified and the level of actual compensation has increased even more with the improvement of this system. In the past, it is true that neighboring areas were considered’promising investments’ because if they were included in a housing district, they were compensated with an appraisal amount lower than the market price, but this schematic division became meaningless after the level of compensation for public housing sites increased last year. This means that there is a greater room for widespread land speculation on planned public housing sites such as new cities. Nevertheless, it is pointed out that the countermeasures to prevent speculation are to group the planned development site and adjacent areas into a land transaction permission area immediately after the public announcement of the planned public housing site as before, which is insufficient compared to the changed environment. In particular, it is possible that some of the LH employees who purchased the land in Gwangmyeong and Siheung, who were involved in the compensation business, were clearly penetrating the changing compensation system at the time of last year. The field (5025㎡) in Gwarim-dong, Siheung-si, purchased with 7 people including LH employees in February of last year, was revealed to have been split into four lots of 1,000㎡ or more in July. Experts point out that this shows the probability that the employee in question would have been aiming for a special supply of detached houses or apartments, a total of four negotiated transfers, through land division immediately after he became aware of the change in compensation-related regulations. By Choi Jong-hoon, staff reporter