Suncheon-si, Temporary Address Change to Another Region Makes It Difficult to Receive Apartment Supply

Starting February Next Year, Priority Supply System for Apartment Sales to Residents Living Over 3 Months in Suncheon Area Implemented
Neighboring Local Governments Expected to Face Significant Decline in Population Drain Repeated at Year-End

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City (Mayor Heo Seok) will implement the ‘Local Resident Priority Supply System’ starting February next year, which allows priority allocation of apartment units to those who have resided in Suncheon for more than three months, in order to expand opportunities for citizens to own homes and stabilize the housing market.

The Local Resident Priority Supply System is a system that allows priority supply of apartments to local residents to prevent speculation in the area, as stipulated in Article 54 of the Housing Act and Article 4 of the Housing Supply Regulations. Suncheon City announced the designation of priority supply targets for apartments on the 10th of last month and will implement this system from February next year.

Until now, there were no such restrictions in Suncheon, but due to cases of disguised address transfers aiming to qualify for priority supply, the city has strengthened the priority supply criteria to block outside speculative forces and expand opportunities for genuine demand residents of Suncheon to own homes.

Accordingly, from February next year, when applying for apartments supplied in Suncheon, even if the applicant is a Suncheon resident, they must have resided within Suncheon City for more than three months (matching resident registration) to meet the priority supply (first priority) winning criteria for local residents.

A Suncheon City official stated, “Since 2021, large-scale apartments have been planned to be supplied in private land areas such as Wangji 2 District and Pungdeok District in Suncheon,” adding, “If the system proves effective after implementation, the residency requirement may be extended from three months to six months or more than one year. Temporary address transfers to other regions may result in losing the opportunity to purchase apartments supplied in Suncheon.”

He also said, “We will do our best to expand opportunities for genuine demand residents of Suncheon to purchase apartments so that the housing market can stabilize without increasing citizens’ housing burdens due to rising sale and purchase prices.”

This measure by Suncheon City is expected to curb the repeated population drain at the end of the year from local governments such as Yeosu and Gwangyang.

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