Gangneung-si Cracks Down on Illegal Brokerage of 'Gyodong Haneulchae' with 115 to 1 Subscription Competition Rate
Illegal Brokerage at Other Sale Sites Also Subject to Guidance and Crackdown
[Asia Economy Reporter La Young-cheol] Gangneung Gyodong Haneulchae recorded the highest subscription competition rate in Gangwon Province at 114.94 to 1, raising concerns about illegal brokerage activities, prompting Gangneung City to launch crackdowns.
According to the city on the 21st, this crackdown is a measure in response to the recent rapid rise in apartment prices in the Gangwon area and the influx of investment demand into the non-regulated Gangwon region, as most areas nationwide have been designated as regulated zones.
The city and the Korea Association of Realtors will conduct joint crackdowns, and in particular, they plan to guide and crack down on illegal brokerage activities not only at the Gangneung Gyodong Haneulchae sales site but also at other sales sites.
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Park Young-cheol, Director of the Land Management Division, urged, "Trading winning rights is illegal. After the sales contract is established, please thoroughly verify the identity and conduct transactions through registered real estate offices to avoid damage."
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