Hong Nam-ki "114,000 Rental Housing Units to be Supplied Nationwide by 2022" (Update)

Real Estate Market Review Meeting of Relevant Ministers Held on the 19th
70,000 Housing Units in the Metropolitan Area, 35,000 Units Supplied in Seoul

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Hong Nam-ki, Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, announced on the 19th, "Over the next two years, we will supply a total of 114,000 rental housing units nationwide, including 70,000 units in the metropolitan area and 35,000 units in Seoul, through methods such as newly built purchase rental housing by purchase agreement and public jeonse-type housing."

He stated in his opening remarks at the meeting of ministers in charge of real estate market inspection held at the Government Seoul Office Building that "we plan to proactively expand the mid- to long-term housing supply foundation, including additional land discovery and improvement of private construction regulations."

He added, "To resolve difficulties in the jeonse market, we have decided to make every effort to secure ultra-short-term supply volumes by the first half of 2021."

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