‘Additional supply’ of 830,000 households,’spattering’ that includes a large amount of members

Although the government announced that it would promote’additional supply’ of 830,000 households nationwide, including 320,000 households in Seoul, it turned out that more than half of the amount to be returned to existing landlords (union members) was included. In fact, it is pointed out that the amount of new homes actually released can only be half of the amount announced by the government.

On the 5th, the government announced that it will supply additional housing sites for 830,000 households nationwide by 2025 in accordance with the’Remarkable expansion plan for the public-led 3080 plus metropolitan area housing supply’.

Minister of Land, Infrastructure and Transport Byun Chang-heum emphasized, “If you combine the existing residential welfare roadmap and 1.27 million households that are being promoted through the 3rd new town, about 2 million households, the highest level ever, will be supplied.”

However, experts criticized these calculations as inappropriate. This is because the 3rd new town is a net increase from development on empty land, while the core of this housing supply measure is’repair project’.

The maintenance project (redevelopment and reconstruction) is a structure in which old houses are demolished and new houses are built higher, distributed to existing landlords (members), and then supplied to the general public as subscriptions.

In other words, where there is no empty land such as Seoul, as the government has professed, the total volume of 320,000 households cannot be supplied’additionally’.

In fact, when the remarks from officials from the Seoul Metropolitan Government and the Ministry of Land, Infrastructure, and Transport are summed up, only 30-50% of the quantity the government decided to supply according to the ‘3080 Plus Supply Measures’ will be released as general or public sales.

In fact, in Seoul, even at the maximum, about 150,000 units, and when viewed nationwide, about 400,000 units can be seen as a net increase.

A professor of real estate at University A, who requested anonymity, said, “I agree with the government’s will, but the volume is too exaggerated,” and said, “I am worried about the possibility of realization as it is unknown where and how to develop it.”