Gwangju Nam-gu Investigates Real Estate Transactions in Bongseon-dong with High Non-Resident Activity

If Illegal Activities Such as Real Transaction Violations Are Detected, 'Administrative Punishment + Criminal Penalty' Policy Will Be Enforced

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Nam-gu, Gwangju Metropolitan City (District Mayor Kim Byeong-nae) announced on the 23rd that due to the rapid rise in apartment prices in the Bongseon-dong area caused by gap investments from outsiders, on-site inspections of illegal real estate transactions will be conducted until the end of this year to stabilize local real estate prices.

To this end, Nam-gu has organized six joint on-site guidance and inspection teams composed of judicial police officers from Gwangju City Hall and officials from relevant departments, and plans to focus investigations on illegal transactions at real estate agencies within the district.

In particular, they will focus on real estate agencies with many transactions involving outsiders and will continue monitoring all real estate agencies operating within Bongseon-dong.

There are 100 real estate agencies identified within Bongseon-dong, of which 26 agencies have been counted as having many transactions with outsiders.

The on-site inspections will cover whether the actual transaction reports match the transaction contracts, compliance with mandatory postings at brokerage offices, the condition of document copies, whether brokerage assistants are conducting proxy contracts, illegal lending of licenses, and whether brokerage fees exceed the allowed amount.

For agencies found to be violating regulations through the inspections, measures will be taken to establish a sound real estate transaction order, including administrative sanctions and criminal penalties.

A Nam-gu official stated, “Through focused investigations on actual real estate transactions by outsiders, we are conducting detailed investigations by requesting actual transaction explanation materials from suspects,” adding, “If inspections or requests for explanation materials are refused without special reasons, strict measures will be taken according to relevant laws.”

Meanwhile, Nam-gu plans to conduct intensive inspections until the end of this year and will continue to carry out crackdowns on illegal real estate transactions as needed to stabilize the real estate market within the district, including Bongseon-dong.

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