Daejeon Launches 'Apartment Project Cost Verification Team' to Stabilize Sales Market

The photo is unrelated to the article. Source=Yonhap News Agency

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The housing project cost verification team has been launched in Daejeon, becoming the first of its kind nationwide. The team's purpose is to promote stabilization in the housing sales market.

According to Daejeon City on the 29th, the verification team consists of seven experts from various fields: one university professor, one certified public accountant, one appraiser, two housing-related specialists, and two public institution employees.

The verification team will play a role in addressing concerns over excessively high housing prices in private land areas. The team will conduct cost verification during the approval process of local housing construction project plans to induce reasonable sales prices, thereby lowering the threshold for ordinary citizens to own homes.

Previously, in November last year, Daejeon was excluded from the government-designated price ceiling regulation areas, resulting in local housing prices maintaining an upward trend for 40 consecutive weeks and the subscription competition rate rising to the highest level among metropolitan cities nationwide.

In particular, the high housing prices have intensified market confusion, such as the apartment in Bogyong-dong, Yuseong-gu, sold in March last year, with a sales price approaching 15 million KRW per 3.3㎡.

In response, as a first-phase measure to stabilize the housing market, on December 16 last year, the city strengthened safeguards against external speculative forces (false address registration) by extending the priority supply residency period for local residents during housing subscription from the previous 3 months to 1 year and expanded the residency period application from only Seo-gu and Yuseong-gu to the entire Daejeon area, among other criteria changes.

However, since these first-phase measures did not produce significant effects, the city explained that the verification team was launched and will be operated as a follow-up (second-phase) measure.

Ryu Taek-yeol, head of the Urban Regeneration Housing Headquarters of the city, said, “Through the verification team, we will prevent excessive pricing by project entities or construction companies and ensure that housing is supplied at reasonable prices to actual demanders.”

Meanwhile, Daejeon plans to newly supply 22,369 housing units this year, including Gapcheon 1 Block, Tanbang and Yongmun reconstruction, and Daedeok public-supported private rental housing.

This content was produced with the assistance of AI translation services.