The party government conducts discussions on expanding housing supply in metropolitan areas
“Preparing a plan to properly distribute development profits”
In connection with the real estate issue, Kim Tae-nyeon, the leader of the Democratic Party, emphasized that “we will cut off speculation demand profits from the source and push forward with real estate stability and fair taxation policies.”
In a speech at both the party administration (ruing party and government) meeting on the’plan to expand housing supply in metropolitan areas’ held at the National Assembly this morning, Kim added, “We will continue to pursue mid- to long-term housing supply measures that reflect changes in population and households.”
“As previously announced, the Party government has prepared (measures) with great care to prepare the largest housing plan for the Moon Jae-in government,” said Kim. “We prepared a plan to supply large-scale housing beyond market expectations, especially in Seoul and the metropolitan area, where housing demand is high.” Said.
“The key to this measure is to secure the stability and speed of housing supply, and to secure publicity.” “The lagging original downtown promotes public redevelopment and public reconstruction in connection with urban regeneration, and the semi-industrial zone in the station area promotes increased residential density by easing regulations. We have established a supply strategy.”
He said, “By period, we will secure both the quantity to be supplied quickly in the short term, such as this year and next year, and in the mid to long term.”
In addition, “I hope that the party will take the first priority in improving the legal system necessary for housing supply, and the government will make every effort to proceed with the established supply plan without any problems.” “We will provide a plan to ensure proper distribution to local communities and tenants, and to avoid side effects such as price increases on new sites.”
Hong Ik-pyo, chairman of the party’s policy committee, said, “The plan to expand supply that the party has been promoting is based on the supply of high-quality housing in the city center through public initiative, in addition to public-led new city construction or private-led redevelopment and reconstruction methods in downtown areas. “The success or failure of the housing supply measure for the metropolitan area depends on the speed and quantity of housing,” he said.
In addition, he added, “The party will swiftly revise the housing-related laws so that the epoch-making housing supply will be promoted quickly.”
Chairman Hong emphasized, “In addition, it includes the complex supply of various facilities as well as housing suitable for urban functions. For this purpose, we will establish a cooperation model between the government, local governments, public enterprises, and private construction companies.”
Furthermore, he added, “This is the time to provide high-quality houses by securing sufficient living infrastructure (facilities) in residential areas.”
Chairman Hong said, “We supply housing centering on pre-sale apartments that consumers want, and public rental housing includes mixing and supplying them in consideration of location conditions in order to secure consumer choice.” We have also prepared measures to block speculation,” he said.
In addition, he said, “We will actively prepare necessary financing measures.” “The party will carefully examine the problem so that this supply measure will not lead to new speculation in the downtown area and short-term rise in housing prices. Additional measures to prevent disturbance in the real estate market will be prepared. “I professed.
He added, “We will provide sufficient supplies while also implementing housing welfare policies for the vulnerable, low income, and young generations.”
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