What Are Gyeongnam Province's Response Measures for Speculative Overheated Zones and Adjustment Target Areas like Buk-myeon?

Monitoring Transaction Status in Dong-eup and Buk-myeon, Uichang-gu, Changwon City to Review the Necessity of Lifting Restrictions

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] On the 18th, the Ministry of Land, Infrastructure and Transport designated Uichang-gu in Changwon-si, Gyeongnam as an overheated speculation district and Seongsan-gu as a regulated area. To prepare countermeasures following this designation, a public-private cooperation meeting was held on the 21st.

The meeting was held with the participation of officials from Changwon, Gimhae, Yangsan, Jinju, and related organizations such as the Korea Real Estate Board, Bank of Korea, Korea Association of Realtors, and the National Police Agency.

First, regarding the inclusion of Buk-myeon and Dong-eup in Uichang-gu as regulated areas, it was analyzed that Buk-myeon saw a 10-30% surge in apartment prices within the last month due to increased investment from outsiders since early November, and there were many factors attracting population inflow such as the establishment of Dongjeon General Industrial Complex and designation of Naegok District.

Dong-eup is expected to undergo development projects such as the resolution of unsold housing stock, Deoksan General Industrial Complex, and Sinbang District. To prevent a balloon effect if only the eastern area of Uichang-gu were designated, it was included as a regulated area.

However, the province requested that only the town and township areas of Uichang-gu be designated as regulated areas excluding the eup and myeon areas, but this was not reflected. The transaction status of the relevant areas will be closely monitored, and when the real estate market stabilizes, active consideration will be given to lifting regulations in consultation with Changwon-si.

Another attendee expressed concern that the designation of regulated areas might worsen the real estate market, as housing sales are judged to be by local residents or actual occupants, and requested a full investigation including the source of funds for sales volume.

In response, the province will strengthen guidance and crackdowns on illegal and illicit acts caused by speculation beyond residential purposes, carefully monitor to prevent harm to actual residents such as the homeless, and actively work to resolve issues including proposals for improvement of relatively unreasonable systems compared to the metropolitan area to central government departments.

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