As the government’s ambitious announcement of a major flaw in the 2·4 supply measures has been highlighted, a major confusion in the real estate market is occurring.
If it is selected as a public-led maintenance project, the problem is that houses purchased after the 4th, the date of the announcement of the measures, are likely to be liquidated in cash. This is because there are concerns that there will be several cases where a house was bought without considering the project progress, but later designated as a maintenance area and the housing value was not properly recognized.
Following the controversy over the constitution due to regulations infringing on private property rights, the polarization between the’core and non-core’ areas, which only raises the prices of new apartments in the Gangnam area of Seoul, is intensifying, and a severe post-storm has been blowing. Core areas such as Seoul and Gangnam, which are shouting’opposite to the public reconstruction and redevelopment association’, have escaped the radar network for the second and fourth countermeasures, while the outskirts of Seoul have been hit by a strange grenade.
According to the real estate industry on the 7th, the transaction in the real estate site in the Seoul villa cluster was virtually’all-stop’ after the announcement of measures on the 4th. A, a real estate agent who runs a brokerage office in the redevelopment area of Guro-gu, Seoul, couldn’t eat properly because the phone was on fire all weekend. From an investment perspective, demand for villa purchases has ceased, and end-users who have been weighing the purchase of multi-family homes in the station area for real residence are also in a position to look for other houses in the aftermath of the 2nd and 4th measures.
Mr. A said, “A householder who was buying a villa asked,’I saw an old villa sparse near my house. If a few years later, if the redevelopment was implemented in this area, shouldn’t I get the right to move in and be kicked out of my house?” “I couldn’t recommend a contract that looks dangerous, so I sent the buyer back to wait until the government policy became more concrete,” he said.
The problem is that this chaos is sweeping the entire Seoul metropolitan area, where old villas and reconstructed apartments are concentrated. Kim Je-kyung, director of Tumi Real Estate, said, “The real estate brokerage is concerned about the possibility of lawsuits related to cash settlement in the future and expresses difficulty in signing the contract.” Then, in the future, there will be one after another falling into the’trading cliff’.”
On the homepage of the Ministry of Land, Infrastructure and Transport, the Blue House National Petition Bulletin Board, and the Internet portal real estate cafe, there are already voices of dissatisfaction, “How do you know how to buy a house to avoid knowing and avoiding that there has not been a single target for the maintenance project.” They said, “We were planning to dispose of the existing house and move it to another area, but we may not be able to trade because the house is located in a station area, or because it is located in a low-rise residential area or semi-industrial area, there is room for development. This is both selling and buying. They complained of a grievance, saying, “This is the case.
Gap-cheol Ahn, attorney at Law Firm Impression, said, “There is a high possibility of controversy over the unconstitutionality of property rights restrictions as people who have existing houses may be in a situation where they cannot sell their houses even if they want to sell them.”
On the other hand, the Seoul Gangnam area redevelopment complex is virtually not likely to proceed with public-led reconstruction, so it is recognized as a’safe zone’ for the 2nd and 4th measures. A member of Eunma Apt. said, “Most of the residents are interested in rebuilding them into high-end luxury apartments, so they do not want to leave it to the public to damage the image of luxury apartments.” The market analyzes that the same sentiment lies in the entire Gangnam area reconstruction complex. Rather, there are concerns that a side effect of raising the price of reconstruction in the Gangnam area may occur due to the craze for’one smart house’. Despite the circumstances, the government is repeating only the principled position.
An official of the Ministry of Land, Infrastructure and Transport said, “If you do not take the method of not giving the right to move in to the contract after the 4th (regions where you can become candidates), the compensation amount will increase sharply due to the increase in house prices, and business will become impossible.” There will not be many consumers,” he said.
However, experts are pointing out the government’s excessive administrative convenience.
[손동우 부동산전문기자 / 홍장원 기자]
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