Floor Heating Allowed in 30-Pyeong Studio Apartments... Expansion of Area for One-Room Urban Lifestyle Housing

Apartment Prices Soar, Non-Apartment Regulations Eased
Improvement in Price Ceiling and High Price Review
Hong Nam-ki: "Private Sector's Role in Housing Supply Is Very Important"

Floor heating will now be allowed in medium to large officetels ranging from 30 to 40 pyeong. The maximum area per unit for studio-type urban lifestyle housing, which was previously limited to 50㎡ (exclusive area), will be expanded to 60㎡. Along with this, the government plans to relax the apartment price review standards of the price ceiling system and the Housing & Urban Guarantee Corporation (HUG) to expand private housing supply.

On the 15th, the government announced the "Plan to Expand Urban Housing Supply and Accelerate Apartment Supply Speed" at the Real Estate Market Inspection Meeting chaired by Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki.

At the meeting, Deputy Prime Minister Hong said, "The role of the private sector is very important to ensure the early supply of already announced housing supply volumes and to secure additional supply capacity. We have collected and accumulated opinions from experts and the industry multiple times, and we will strive to resolve the raised difficulties in two ways: expanding urban housing supply and accelerating apartment supply speed."

The government will first reorganize the 'studio-type' urban lifestyle housing into 'small-sized' and increase the maximum area from 50㎡ to 60㎡. The current spatial regulation, which only allows construction of so-called 'two-room' units with a bedroom and living room, will be relaxed to permit up to four rooms, including three bedrooms and a living room, to meet the demand of younger generations. Floor heating allowed in residential officetels will also be expanded from the current limit of 85㎡ to 120㎡. The 120㎡ area is similar to a 40-pyeong unit with a four-room layout based on the general apartment supply area standard.

The government plans to improve the high-priced housing management system and the price ceiling system, which have faced strong opposition from the construction industry. When calculating the sale price, comparable projects will be selectively applied considering factors such as complex size and brand, and detailed review criteria will be disclosed.

Meanwhile, Deputy Prime Minister Hong also hinted at additional measures related to household loan management. He said, "The government will strongly promote already announced measures such as strengthening the Debt Service Ratio (DSR) and actively seek additional measures to block balloon effects toward non-bank sectors if necessary. However, during this process, we will manage to minimize the impact on actual demand rental loans."

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