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Government 2 · 4 Supply Plan Announced … Public Targeted Redevelopment and Reconstruction Facility
Promotion of urban public housing complex projects in the station area, semi-industrial areas and low-rise residential areas.
If you buy real estate in the commercial area after this day, there is no right to preferential housing.
The government promotes reconstruction and redevelopment projects implemented directly by the public to dramatically increase the housing supply in large cities like Seoul.
For station areas, semi-industrial areas and low-rise residential areas, the government directly appoints the districts and public institutions lead the projects.
Through this, a goal was set to secure a site capable of supplying 836,000 homes across the country, including 323,000 homes in Seoul alone, by 2025.
On the 4th, the government announced at the government building in Seoul, “3080+ led by the public, a plan to radically expand the housing supply in metropolitan areas.”
This is the twenty-fifth real estate measure of the current government.
It is the largest supply measure in the current government.
The main point is that the development method implemented directly by public institutions like Korea Land and Housing Corporation (LH) and Seoul Housing and Urban Corporation (SH) was introduced.
For maintenance projects such as redevelopment and reconstruction, a kind of direct implementation of public institutions will be recently established, and the ‘city center public housing complex project’, which is implemented directly by the public using the Special Public Housing Law will be established for the development of station areas, semi-industrial areas and low-rise residential areas. It is temporarily promoted.
These projects receive floor area ratio incentives that exceed the legal upper limit and are designated as special construction areas, alleviating various urban regulations such as the right to sunlight and height restrictions.
The floor area ratio increases to 700% in the Seoul station area and 500% in the semi-residential area.
Existing residents are guaranteed a 10 to 30 percent higher rate of return compared to their own projects.
Development proceeds that exceed the guaranteed rate of return are redeemed and used to expand the living SOC, support tenants, and create public rental housing for the socially disadvantaged.
With the consent of more than two-thirds of the residents, the project will be promoted and the project will move forward rapidly through a fast-track operation, such as integrated deliberation by local governments.
In the case of direct public redevelopment and reconstruction, the project period is drastically shortened from 13 years or more to a 5-year term, and the redevelopment excess earnings return system and residency obligation do not apply two-year real for members.
Small-scale redevelopment projects are recently established to activate small-scale maintenance projects, and small-scale home maintenance management areas are created in low-rise residential areas.
To expand the housing supply through urban regeneration, the system of residential regeneration innovation zones is introduced.
This is a project that lays a foundation for housing, well-being and comfort in residential areas where public companies like LH have declined and it is possible to accept land on a limited basis.
A new specialized residential regeneration agreement has also been introduced, and projects related to redevelopment and reconstruction, small-scale maintenance and urban public housing complex projects will be carried out within and outside the urban regeneration area.
A plan was also prepared to block speculative demand.
Priority supply rights are not granted if real estate such as land in the commercial area is acquired after that day.
The area where the project promotion is scheduled is designated as a land transaction permit area, and the purchase of real estate is restricted unless it is for royal residence or royal administration purposes.
70-80% of the housing supply insured through the project is supplied by public pre-sale, and the remaining 20-30% is supplied by publicly owned housing and public leases such as redemption conditions, land leases and accumulation capital.
The purpose is to improve the floor area ratio donation incentive payment system, used primarily for public leases, to increase the satisfaction of existing residents and expand options for housing consumers by providing various types of housing.
Additionally, 101,000 units will be supplied through non-residential renovations or new home purchase agreements.
Through this measure, the government will supply 616,000 homes to the metropolitan area, including 323,000 units in Seoul, by 2025, and will insure 220,000 homes in local metropolitan areas.
The 323,000 units in Seoul are the size of three new cities in Bundang and are similar to the number of apartments in Gangnam 3-gu.
Of the 836,000, about 573,000 are insured through new projects in the city center, and 263,000 are insured through the designation of new public housing sites.
The government plans to designate about 15 new housing sites across the country, focused on the metropolitan area and local metropolitan cities.
When the existing housing welfare roadmap and the supply plan of 1,272 thousand units in the metropolitan area that is promoted through the third new city are combined, the number of homes supplied by the government to the metropolitan area approaches the 2 million units supplied during the Roh. Tae-woo administration.
An additional 13,000 units will be supplied to the Happy Town planned area in Sejong city, which has recently increased a lot.
The ‘Residential New Deal’ will be promoted, combining social services such as jobs, childcare and parenting with public rental housing, and various SOCs for life.
For the projects included in the measures, we will also promote the exemption of preliminary exceptions to public institutions.
The subscription system will also be reorganized to ensure the opportunity for middle class people to subscribe to the newly established pre-sale public housing through the housing supply method.
The general public pre-sale offer currently represents only 15% of the total volume, but will be increased to 50% and a lottery system (30%) will be introduced for the general offer to expand subscription opportunities.
Land, Infrastructure and Transport Minister Byun Chang-heum said: “If the business model presented today is implemented smoothly, we will quickly supply high-quality housing at a rate that exceeds market expectations.” “Also, by improving the underwriting system, not just for newlyweds and beginners. He said,” We will greatly expand opportunities for homeless households in their 30s and 40s. “
/ yunhap news
