'Reconstruction → House Price Increase?' Oh Se-hoon: "There Is a Way, No Need to Worry"

"Measures Under Review Including Land Transaction Permits in Overheated Real Estate Areas"

Seoul Mayor Oh Se-hoon Photo by Yonhap News

[Asia Economy Reporter Park Jun-yi] Seoul Mayor Oh Se-hoon announced on the 13th that he is considering measures to prevent housing price increases, such as designating overheated real estate market areas as land transaction permission zones.

Mayor Oh appeared on MBN News in the evening and addressed concerns about housing price increases due to the easing of redevelopment and reconstruction regulations, saying, "If there is a possibility of stimulating surrounding housing prices, administrative measures can be used, such as designating the area as a land transaction permission zone," adding, "There is no need to worry too much."

Regarding the pace of regulatory easing, he said, "Actually, when I said 'I will start within a week,' it was an expression of my intention, but holding the Urban Planning Committee or revising the city council ordinance takes one to two, or two to three months," and added, "Recently, there have been signs of overheated transactions in some areas, so I think we need to proceed quickly but cautiously."

When asked whether the city would distribute free COVID-19 self-test kits, he replied, "At first, it might be difficult to purchase due to production limits like masks," and added, "If production increases and it is successfully established, I think the central government will step in to distribute them."

Regarding the policy to ease business restrictions through 'Seoul-style social distancing' and whether it would be implemented independently if not agreed upon with the government, he said, "Rapid antigen tests, which are already permitted, are being piloted in schools, and based on that, we plan to consult with the Central Disaster and Safety Countermeasures Headquarters (CDSCH), so the likelihood of disagreement is low."

He reiterated, "The timing and method of implementing new measures will all be decided in consultation with the CDSCH."

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