Oh Se-hoon: "We will supply 360,000 housing units in Seoul over 5 years"

[Asia Economy Reporter Naju-seok] Oh Se-hoon, former mayor of Seoul and candidate in the People Power Party's Seoul mayoral primary, has announced a real estate supply plan to provide 360,000 housing units in Seoul over the next five years. The pledge includes revitalizing redevelopment and reconstruction, expanding the supply of long-term lease housing, and public housing on privately leased land.

Former Seoul Mayor Oh Se-hoon, a candidate in the People Power Party's Seoul mayoral primary, is announcing his real estate housing supply policy pledge at the National Assembly Communication Hall on the 9th. Photo by Yoon Dong-joo doso7@

On the 9th, former Mayor Oh held a press conference at the National Assembly Communication Office, pledging to supply 185,000 units through the normalization of redevelopment and reconstruction, 70,000 units through the expansion of long-term lease housing and public housing on privately leased land, and 30,000 units through small-scale reconstruction projects such as Moa Housing. He also stated that he would inherit and develop the existing Seoul city supply plan of 75,000 units.

Former Mayor Oh first proposed supplying 100,000 units over the next five years by relaxing the designation criteria for redevelopment and reconstruction, aiming to provide 20,000 units annually. He intends to ease designation requirements for projects that have faced difficulties, such as street housing maintenance projects and small-scale reconstruction, to improve their feasibility. In particular, the plan includes measures to stimulate project activation by relaxing regulations related to floor area ratio and building height.

The plan also includes doubling the existing supply volume of long-term lease housing. Additionally, it proposes systems such as public housing on privately leased land, in addition to public land.

Regarding the rise in real estate prices in Seoul, former Mayor Oh focused on the shortage of available land causing land prices to increase and thus housing prices to rise. He proposed a method where privately owned land is leased, land rent is paid, and SH Corporation and others construct and supply housing. He emphasized that this approach reduces the funds needed for land acquisition, enabling rapid construction starts and affordable housing supply.

Furthermore, former Mayor Oh revealed plans to promote small-scale reconstruction that maintains community through Moa Housing. Moa Housing is a small-scale reconstruction project ranging from 5,000㎡ to less than 3,000㎡, jointly developing houses in densely populated areas such as single-family or multi-family homes. He explained that this project allows various architectural attempts while preserving alleys and communities, enabling the establishment of urban-type townhouses.

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