LH, Comprehensive Review of This Year's Final Housing Supply Measures "Strengthening Early Supply"

2022 Housing Supply Expansion and Early Supply Measures, Short-Term Housing Supply Discussions to Address Jeonse Shortage
Review of Policy Projects Including 3rd New Towns and 2.4 Plan and Key Promotion Plans for Next Year
"Strengthening Early Supply and Expanding Pre-Subscription to Spread Market Stability Momentum"

Kim Hyun-jun, President of LH, is presiding over a meeting on measures to revitalize the comprehensive review meeting on housing supply policies held on the 15th. / Photo by LH.

The Korea Land and Housing Corporation (LH) held the final “Comprehensive Housing Supply Policy Review Meeting” of the year on the 15th at the LH Gwacheon-Uiwang Business Headquarters, deciding to mobilize all available means to expand housing supply.

The meeting was organized to foster consensus among executives and employees on accelerating project implementation and ensuring uninterrupted housing supply during the year-end and New Year period through comprehensive discussions on overall supply policies, including the 2022 housing supply activation plan, the 3rd New Town projects, and the 2.4 Plan implementation schedule.

Before the meeting, LH President Kim Hyun-jun emphasized, “We must mobilize all available means to expand housing supply so that the recent trend of housing market stabilization does not break, and by starting the 2022 housing supply early, we should faithfully support the government’s real estate stabilization policy.”

For public sale housing, LH plans to supply more units than originally planned within the government’s pre-sale target of 30,000 units for next year. Additionally, for rental housing under construction in relatively high-demand locations in the metropolitan area, LH intends to advance the supply schedule to provide as many units as possible within next year. However, the official 2022 business plan will be finalized and disclosed by the end of February next year after board approval, detailing specific targets and supply volumes.

Alongside this, to maintain the housing market stabilization trend, LH plans to advance the supply of about 9,000 public sale and construction rental units originally scheduled for supply after the first quarter of 2022 to the first quarter, and will promptly conduct recruitment for purchase rental and jeonse rental tenants.

In particular, given the market’s significant concerns about the jeonse shortage next year, LH will actively supply newly acquired purchase rental and public jeonse housing secured through purchase agreements this year. Separately, among the homes planned for purchase in the second half of next year, about 3,000 units will have their purchase timing advanced to the first quarter, and LH will also reorganize the purchase rental supply organizations in each regional headquarters to enable early tenant recruitment.

The meeting also reviewed the progress and plans for the 3rd New Town projects and the 2.4 Plan, including urban public housing complex projects.

Currently, all district plans for the five 3rd New Town districts, including Namyangju Wangsuk, have been approved this year. A total of 176,000 housing units will be constructed, including 92,000 public housing units and 84,000 private housing units, with 10,000 units supplied through pre-sale this year.

In 2022, LH plans to secure additional pre-sale units that have high public approval by enhancing the existing district plans. During the first half of next year, LH is reviewing revisions to the existing plans to expand the supply of sale housing, including adding about 5,000 units to the pre-sale program.

After the meeting, President Kim urged, “Please do your best to expand housing supply so that the housing market stabilization atmosphere can become even firmer,” and added, “Thoroughly manage the project schedule so that the supply volumes promised to the public, such as the expansion of pre-sale housing, can be supplied early.”

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