Sejong to Supply Over 6,000 Apartment Units... Promoting Stabilization of Real Estate Transactions

[Asia Economy (Sejong) Reporter Jeong Il-woong] Sejong City will newly supply apartments with a scale of about 6,000 households. It is the first time in 1 year and 4 months since May last year.

The city announced on the 20th that in the second half of this year, it will sequentially supply 563 urban-style residential units in two blocks of the 6-4 living zone, 995 public sale units by Korea Land and Housing Corporation in the M2 block of the 6-3 living zone, and 770 units in H2 and 580 units in H3 private housing in the 6-3 living zone.

Including rental housing such as Happy Housing and National Rental supplied by Korea Land and Housing Corporation, the supply volume for sale and rent in the second half of this year will reach 3,366 units for sale and 2,600 units for rent, totaling 5,966 units.

The city recently approved the housing construction project plan for the M8 block in the 1-1 living zone (Goun-dong Garak Village 12 Complex · Hallim Construction) and will newly supply 458 units in October. The new apartments in the M8 block will be supplied in large sizes of 85㎡ or more exclusive area, and the sale price will be decided at the price review committee meeting to be held next month.

Along with the supply of new apartments, the city will also conduct investigations and crackdowns on illegal activities in the real estate market. This is a measure to prevent overheating of the real estate market, fueled by issues such as the relocation of the administrative capital and additional relocation of government ministries.

First, the city plans to inspect whether there have been any illegal acts under the Licensed Real Estate Agents Act targeting local real estate agencies and the sales market, focusing on apartment price collusion that causes price increases and false listings.

In addition, buyers who purchased land within the land transaction permission zone but do not use the land for the permitted purpose, and buyers who purchased land or buildings for their own residence but do not actually reside there and only transferred their resident registration will also be investigated and administratively sanctioned.

Kim Tae-o, Director of the Construction and Transportation Bureau of the city, said, “We will resolve the thirst of local housing demanders by newly supplying about 6,000 apartment units in the second half of this year,” and added, “At the same time, by cracking down on the real estate market, we will promote the stabilization of the local real estate market and lay the foundation for the relocation of the administrative capital.”

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