Government·Seoul City “Plan to expand housing supply such as station area is on the way” (General)

(Sejong = Yonhap News) Reporter Jong-Seok Yoon = The government and Seoul plan to quickly prepare a plan to expand the supply of housing in downtown Seoul, such as station areas and low-rise residential areas, and to develop idle sites without a hitch in order to stabilize the housing market.

On the 18th, the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government announced that they are pursuing a task in the housing supply sector at the annual government joint real estate policy promotion status and plan briefing session at the Government Complex Sejong on the 18th.

Seoul apartment complex
Seoul apartment complex

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First of all, the Ministry of Land, Infrastructure and Transport plans to promote public maintenance projects that secure publicity while leading the project by public institutions such as the Korea Land and Housing Corporation (LH).

The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government recently selected eight places that have great effects on housing supply and improvement of the residential environment, including Heukseok District 2 in Dongjak-gu, as candidates for public redevelopment.

Public reconstruction also reported the results of recent consulting to the union.

It was found that if public reconstruction is performed in consulting, 1.5 times more houses are supplied through deregulation such as the increase of bells, and residents’ contributions are reduced by 35%.

The Ministry of Land, Infrastructure and Transport is also planning to carry out a second consultation to encourage more unions to participate.

An official from the Ministry of Land, Infrastructure and Transport said, “We will continue to consider ways to give additional incentives to revitalize participation in public maintenance projects.”

The Ministry of Land, Infrastructure and Transport is also planning to quickly supply the housing quantity suggested in the pre-generation plan announced in November last year.

Of the public rental vacancy, 19,000 households were supplied to existing targets as soon as a charter type, and 20,000 households are planned to be supplied as a charter type by significantly easing income and asset standards.

For three days from this day, LH will receive an application for recruitment of integrated tenants nationwide for the chartered rental of 14,000 households supplied by LH.

Seoul city announced that it plans to supply 83,000 households, including 24,000 households for public rental this year.

This year, the city plans to smoothly promote public maintenance projects such as public redevelopment, revitalization of housing supply in the station area, and pre-generation measures.

In particular, a new public small-scale reconstruction, a so-called’mini-reconstruction’ targeting small complexes of less than 200 households, will be introduced and a full-fledged pilot project will be launched from the second half of the year when the law is reorganized.

Currently, there are 1,70 houses and 60,000 households in Seoul for small-scale public reconstruction projects, such as row houses and villas, 30 years after completion.

An official from Seoul said, “There are 5,856 houses in 76 houses that are currently undergoing small-scale reconstruction, and if these projects are promoted smoothly, we will be able to expand the supply to 9,950 households in 2023.”

The city announced that it expanded the scope of the station area, the target area, and the business method last year to supply houses using the station area.

The target area of ​​the station area has been expanded from 207 existing areas to all station areas (307 areas), and the range of station areas where high-density development is possible has also been expanded from 250m to 350m.

Through this, the city predicted that it would be able to supply additional 8,000 homes by 2022 and 22,000 homes by 2025.

The city of Seoul announced that it is also cruising with complex development and station development projects using idle land.

Construction of 90,000 households is underway in 127 project sites. Last year, a total of 7,84 households including 6 complexes in Godeokgangil District and 9 complexes in Magok were completed. The Seoul Metropolitan Government introduced that the construction of 1,699 households will be completed.

The city of Seoul is also planning to actively introduce equity-equipped pre-sale houses as an alternative to’lotto pre-sale’.

In particular, the city said it plans to convert and supply public pre-sale houses supplied by the Seoul Housing and Urban Corporation (SH) to equity-equipped pre-sale houses. It was expected to be able to supply furniture.

On the other hand, the Ministry of Land, Infrastructure and Transport assessed that the effect of the existing tenants’ housing stability has been increasing since the right to apply for contract renewal and the cheonsei limit system were introduced, and introduced that the contract renewal rate of existing tenants has recently increased to 73%.

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