Government “Apart from the LH crisis, we will shorten the housing supply period”

03/26/2021 Korea

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Entry 2021-03-26 09:19 | Revision 2021-03-26 09:38

▲ Apartment.ⓒ Yonhap News

The government diagnosed that the collective land speculation in the third new city by employees of the Korea Land and Housing Corporation (LH) did not significantly affect the expansion of uncertainty in the real estate market and decided to proceed with the measures of housing offer without problems. Immediately next week, the second candidate for public redevelopment and the first candidate for urban projects will be announced. Intensive measures to prevent incident-related recurrence of LH are also scheduled to be launched early next week.

On the 26th, Vice Premier Hong Nam-ki held the 18th meeting of the housing market inspection ministers at the Seoul government office, saying, “If current housing policy is affected and market instability increases again, it will harm the future incumbent generation and all of us. “We will continue to promote it steadily,” he said.

Regarding the housing offer, Vice Premier Hong said: “Next week, we plan to announce the second candidate site for public redevelopment under the 5 · 6 real estate measures and the city’s first commercial candidate site under the second Measure · 4. “The government’s attitude is to shorten it even by one day.”

The government positively evaluated the recent situation of the real estate market. Vice Premier Hong said: “Amid the trend of gradually decreasing the rate of increase in property market prices, positive signals such as an increase in sales and a decrease in jeonse prices have been caught in Gangnam, Seoul, etc. ” “The LH crisis will have a negative impact on the housing market. There was also an expectation that it would be, but I am fortunate that the uncertainty did not expand.” According to government data, apartment sales in Seoul increased from 40,000 homes in the fifth week of January to 44,000 homes and 47,000 homes in the second and fourth weeks of this month, respectively.

▲ Meeting of Real Estate Market Inspection Ministers Inm Yonhap News

Regarding the LH incident, Vice Premier Hong said: “We will announce measures to eradicate property speculation and prevent it from happening again early next week.” endure much stricter rules, responsibilities and penalties to remain a public servant. ”

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Government “Apart from the LH crisis, we will shorten the housing supply period”

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