Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance, as well as President Moon Jae-in, who are the economic command tower, are in a position that they will not hesitate to establish additional measures for real estate stabilization. Minister of Land, Infrastructure and Transport Byun Chang-heum will announce plans to supply urban housing to resolve the housing shortage before the Lunar New Year.
President Moon presided over the new year’s first state council on the 5th and said, “We will not hesitate to establish additional countermeasures while maintaining the government’s policy stance of blocking speculative demand, expanding housing supply, and strengthening tenant protection.” “We will focus on rapidly developing innovative and diverse housing supply plans.”
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391 million households supplied this year through public-private fast track
The Minister of Land, Infrastructure and Transport Byun Chang-heum summoned the heads of public and private key agencies related to housing supply to explain the basic direction of implementing measures to expand housing supply. Seoul City, Gyeonggi-do, Korea Housing and Land Corporation (LH), Housing and Urban Guarantee Corporation (HUG), Seoul Housing and Urban Corporation (SH), Gyeonggi Housing and Urban Corporation (GH), Korea Housing Association, Korea Housing Construction Association, and Korea Real Estate Development Association On this day, a policy conference was held with a video.
Minister Byun said, “This year, private sales are expected to be from 362,000 to 391,000 units, depending on the prospecting agency, and the total amount of sales is expected to reach a maximum of 513,000 units, including public units such as LH and prior subscription.” “We will actively support consulting and support systems with local governments so that such pre-sale can lead to actual pre-sale.”
To this end, the Ministry of Land, Infrastructure and Transport announces measures to supply housing before Lunar New Year holidays. As the basic direction of the day’s countermeasures, Minister Byun said: △Promptly supply housing through’Fast Track’ of public-private cooperation △Supply sufficient quantity through available land and public housing in downtown areas such as station areas △Supply of high quality housing △Intensive supply of housing preferred by consumers △Develop Five things were suggested: proper profit allocation and preemptive blocking of speculative demand.
Minister Byun also emphasized that it gives additional points to companies with excellent supply performance in the city center when bidding for new public housing sites, and provides construction funds at low interest rates of 1% to greatly ease the interest burden.
The Korea Housing Association and the Korea Housing Construction Association propose a task to promote private housing supply in the future: △Reasonable operation of the management of high sales prices in HUG △Tax and financial support related to rental housing to encourage new construction △Improvement of regulations related to city and construction, etc. did.
Minister Byeon said, “We will actively discuss the recommendations of the housing construction industry with relevant ministries and local governments.” “We will ease the floor area ratio to a maximum of 700% through the establishment of district unit plans for convenient transportation areas, and reduce the housing ratio in the minimum area He said, “We will smoothly finish existing projects, such as establishing an institutional basis for public reconstruction.”
“Positive to reflect market needs… Reconstruction deregulation essential”
Experts are giving a positive evaluation for the first time that the government has come up with a concrete and positive plan for housing supply. Jihae Yoon, senior researcher at Real Estate 114, said, “The fast track supply of houses is positive, meaning that we will meet the needs of the market.” In addition to the 3rd new city and city center supply measures, plans A, B, and C have been created. We need to instill a strong awareness that the supply is sufficient.”
However, Ko Jun-seok, an adjunct professor at Dongguk University’s Graduate School of Law, ordered, “There is inevitably a limit to the supply of housing only with the public,” and ordered that “the market will have an effect only when supplying it with the private sector.” He said, “In the end, the maintenance business is the key, and how much the government will loosen the regulations on the maintenance business will be the key keyword for this supply plan.”