People who want to sell houses and those who want to buy houses are tied together,’property infringement’
Redevelopment and redevelopment resident consent requirements eased to two-thirds… Concerns about amplification of resident conflicts
Seoul as seen from Namhansanseong on the 4th when the government announced its 25th real estate plan. The government promotes reconstruction and redevelopment projects directly implemented by the public to dramatically increase the supply of housing in large cities such as Seoul. By 2025, it aims to supply 836,000 houses nationwide, including 320,000 houses in Seoul alone. yunhap news
The government’s 2·4 supply measures are causing controversy over retrospective application. When real estate is acquired in a public-led maintenance/development project area, the main point is not to give the buyer a priority supply right (residence qualification), because this starting point was set as the’planning date’.
In the market, there is growing concern that basic rights such as private property rights and freedom of residence and transfer may be excessively violated.
On the 4th, the Ministry of Land, Infrastructure and Transport announced plans for the public direct implementation maintenance project and urban public housing complex project, and announced that it will not give priority to housing and shopping malls if real estate is acquired in areas where these projects are implemented.
Even in the case of changes in rights, such as division of real estate or separate ownership, priority supply rights are not granted.
Accordingly, if a new home is purchased in the business area after that day, it is subject to cash settlement. The Ministry of Land, Infrastructure and Transport explained that this is a measure to prevent the inflow of speculative demand due to development acting as a good news.
A banner is posted in front of Gyeongnam Town in Beomeo 4-dong, Suseong-gu, Daegu. Reporter Woo Tae-wook [email protected]
The problem is that the criteria for members subject to cash liquidation are different from general maintenance projects. In the case of general maintenance projects, the date of designation of the planned maintenance area, but in this measure, this was advanced to the date of the announcement.
This means that if you buy a house blindly without even knowing whether or not to proceed with the project, and later designated as a maintenance area, you may be driven out.
In fact, the Ministry of Land, Infrastructure and Transport announced that it will apply these standards to the’public direct implementation maintenance project’ and the’city center public housing complex project’ in the announcement of the measures the day before, but it has not yet been specifically consulted with the residents.
There are also concerns that such a policy will reduce normal transactions. Even with the possibility of zoning, the housing becomes a complex that cannot be sold or bought.
An official from a real estate industry in Daegu said, “If it is designated as a maintenance area, the new house may be kicked out of the house you lived in. Who will buy the house without permission?” “No,” he predicted.
The reduction of the resident consent requirement for project promotion from three-quarters to two-thirds was also a side effect.
This is because the possibility of being eligible for cash settlement even if you do not agree to redevelopment and reconstruction has increased.
As such, there are concerns that it will be a factor in delaying the project by amplifying conflicts such as lawsuits based on interests in the project promotion process.