The area of Guarim-dong, Siheung-si, where the 6th 3rd new city is expected to be builtWhile suspicion of land speculation in Gwangmyeong and Siheung new cities in Gyeonggi was raised by employees of Korea Land and Housing Corporation (LH), officials from the real estate industry said on the 2nd that “the time when the employees purchased the land, there were very few land transactions in this area.” I strongly doubted the possibility of speculative use.
An official from a real estate agency in Gwarim-dong, Siheung-si, included in the new city’s planned site, said, “If you look at today’s media reports, it was between June 2019 and June of last year that some LH employees purchased the land in Gwarim-dong and Mujinae-dong, Siheung. It was when there were few transactions.”
He added, “At the time, even if we invited customers to purchase land in this area, we did not show interest in many cases,” he added. “There were rumors of development from a long time ago, but it was not successful.”
The official said, “However, since it is near Seoul, the land price has risen a lot in the past two years. Just before the announcement of the recent new city, the price of the rice paddy or field in this area was twice that of when the LH employees purchased it,” he said.
An employee of another real estate agency in nearby Mujinae-dong also said, “The land transaction in this area hasn’t been good so far,” and said, “I doubt that LH employees bought the land with so many financial institution loans one or two years ago for some reason.”
He insisted, “If you know the development information in advance and buy the land, you must have strong legal penalties.”
He added, “If it turns out that workers in related organizations such as LH staff knew the development plan in advance and made speculation, it would be a lot of disintegration and upset for the local residents, who have not properly exercised their property rights because they have been tied to a special management area.” .
An official from Siheung City said, “We have not yet been informed of any speculation suspicions of LH employees announced by the Participation Solidarity today, etc., or have not been notified by other organizations.” “I plan to review it.”
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