[2·4 Supply Measures] One Household One House Principle... 'Jibun Jjokkaegi' Excluded from Priority Supply

Only One Per Building Allowed
Excluding Areas with 10% Price Increase

[Asia Economy Reporter Kangwook Cho] The government plans to implement strong anti-speculation measures, such as setting the priority supply right based on the principle of ‘one household, one house,’ to address concerns about speculative demand inflow following the announcement of this measure.

First, those who enter into new purchase contracts for existing real estate within the project area after the announcement date or who engage in ‘share splitting’ such as dividing or separating ownership of real estate will be excluded from the priority supply right and will be subject to cash settlement.

Also, even if multiple people co-own a single building or a single lot in shared form, only one priority supply right will be allowed. The priority supply right will be subject to resale restrictions until the ownership transfer registration, and priority supply and redevelopment project association member sales will be prohibited within speculative overheated districts for five years from the contract date.

The planned project area will be designated as a land transaction permission zone. Once designated as a permission zone, acquiring land (shares) above a certain scale will be impossible unless for actual residence or actual business purposes. If necessary, the government’s policy is to include nearby areas of the project site in the permission zone as well.

In addition, the government plans to strengthen planned investigations of actual transactions and on-site inspections regarding speculative demand such as abnormal transactions in the planned project area and nearby areas. To this end, the government will expand and reorganize the current Real Estate Illegal Activity Response Team into a planning unit.

In particular, areas where transaction prices or volumes rise by 10-20% compared to before will be excluded from the project target area, and areas wishing to participate in already announced policies such as public redevelopment will also be excluded from project selection if signs of speculation such as price increases appear.

The Ministry of Land, Infrastructure and Transport stated, "If signs of instability are detected or overheating spreads, we will immediately prepare stronger market stabilization measures through consultations with related ministries."

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