Dongducheon Designated as a Regulated Area for Speculation... Partial Removal of Speculative Overheating Zone in Uichang, Changwon

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Some areas in Dongducheon, Gyeonggi Province have been newly designated as adjusted target areas. On the other hand, some parts of Buk-myeon and Dong-eup in Uichang-gu, Changwon have been removed from the speculative overheating district.

The Ministry of Land, Infrastructure and Transport announced on the 27th that it made this decision at the 3rd Residential Policy Deliberation Committee meeting.

The Ministry had reviewed whether to adjust regulated areas at the 2nd Residential Policy Deliberation Committee held on June 30 but decided to monitor the market situation for another 1-2 months and discuss the adjustment plan again.

According to the Ministry, after reviewing the current regulated areas by city, county, and district units based on legal quantitative and qualitative requirements, no areas met the conditions for deregulation. Except for Sejong City, all cities, counties, and districts saw housing price increases over the past three months exceeding the inflation rate by city and province.

However, following the enforcement of the amended Housing Act in January, which allows designation and removal of regulated areas at the eup, myeon, and dong levels, the Ministry decided to lift the speculative overheating district designation for some eup and myeon areas in Uichang-gu, Changwon, where the housing price increase rate over the past three months was significantly low and there were large differences in local conditions.

Uichang-gu, Changwon recorded a cumulative housing price increase of 0.20% over the past three months, the lowest among current regulated areas. While the designation is lifted for Buk-myeon and Dong-eup areas in Uichang-gu, the speculative overheating district designation will be maintained for Buk-myeon Gamgye and Mudong districts, where there are many apartments and housing prices continue to rise.

Dongducheon City in Gyeonggi Province, where housing prices have continued to rise this year, has been newly designated as an adjusted target area.

In Dongducheon City, speculative demand has surged around station areas due to growing expectations of improved transportation conditions, leading to a sharp increase in transaction volume.

However, considering that market overheating is limited to the area near Jihang Station on Line 1, only Songnae-dong, Jihang-dong, Saengyeon-dong, Bosan-dong, Dongducheon-dong, and Sangpae-dong were selectively designated.

The effects of lifting the speculative overheating district designation and newly designating adjusted target areas will take effect from the 30th. Areas newly designated as adjusted target areas will face strengthened regulations related to loans, taxation, and subscription.

A Ministry official said, "We will continue to monitor the housing market situation and reasonably adjust regulated areas according to market conditions."

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