<기사제목>Deputy Minister of Land: "Gimpo May Face Regulations Next Month... Areas with Significant House Price Increases Should Decline"

Park Sun-ho, 1st Vice Minister of Land, Infrastructure and Transport
Collecting Data in Gimpo, Paju, etc.
It Is Desirable for Places That Have Risen Significantly to Decline

Park Sun-ho, First Vice Minister of the Ministry of Land, Infrastructure and Transport, is delivering a greeting at the "Two Years of Achievements and Challenges of the Moon Jae-in Government's Housing Policy Seminar" held on the 28th at the Press Center in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Moon Jiwon] Park Sun-ho, the 1st Vice Minister of the Ministry of Land, Infrastructure and Transport, said regarding Gimpo and Paju in Gyeonggi Province, where housing prices have risen due to a 'balloon effect' after the announcement of the June 17 real estate measures, "We can designate them as regulated areas as soon as the requirements are met, even as early as next month."

Vice Minister Park appeared on KBS 1TV's 'Sunday Diagnosis Live' on the 28th and said, "We are currently collecting data and investigating the market atmosphere in Gimpo and Paju."

He explained, "The designation of regulated areas affects property rights, so it cannot be decided arbitrarily and must meet the requirements under the Housing Act." According to the Housing Act, to designate an area as a regulated area, conditions such as the housing price increase rate exceeding 1.3 times the inflation rate over three months must be met.

Vice Minister Park said, "When preparing the June 17 measures, Gimpo and Paju did not meet these conditions," adding, "If the market situation later meets the conditions, immediate action can be taken." He further explained, "There is a possibility in July," and "This depends on the market situation in these areas."

Vice Minister Park also refuted some criticisms that the government's strengthening of jeonse loans has made housing more unstable for low-income people. He said, "The purpose of jeonse loans is to help low-income people prepare jeonse deposits," and "Regulations on jeonse loans are intended to prevent gap investments where people buy houses with deposits included."

Regarding the designation of only Jamsil-dong in Songpa-gu, Seoul, and Cheongdam, Daechi, and Samseong-dong in Gangnam-gu as land transaction permission areas, he explained, "It was to restrict property rights under a greater public interest purpose such as public welfare and housing market stabilization." On requiring reconstruction association members to reside for two years before applying for sale, he said, "It is problematic for someone who has never lived there to buy a house solely for investment purposes."

When asked about claims that these regulations infringe on the constitutionally guaranteed freedom of residence and movement, Vice Minister Park emphasized, "The government must strive for comfortable housing for the people and is allowed to restrict citizens' rights for public welfare."

Regarding future housing prices, he forecasted that "they will move in a stable direction." This is because 46,000 apartments will be supplied in Seoul over the next three years, and demand is likely to gradually decrease due to the government's successive measures.

Meanwhile, when asked whether the government's policy goal is to maintain housing prices at the current level or to lower them, he said, "It is desirable for housing prices to fall significantly in areas where prices have risen sharply in a short period."

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