Seongnam Sangjeok-dong Area Forest Land 5.58㎢ Re-designated as 'Land Transaction Permission Zone'

[Asia Economy (Suwon) = Reporter Lee Young-gyu] A 5.58㎢ forest area in Sangjeok-dong, Seongnam, Gyeonggi Province has been re-designated as a land transaction permission zone.

Gyeonggi Province announced on the 4th that it held an urban planning committee meeting on the 25th of last month and decided to re-designate the 5.58㎢ forest area in Sangjeok-dong, Sujeong-gu, Seongnam City as a land transaction permission zone for one year from the 11th of this month to March 10, 2023, to block the influx of real estate speculation forces.

The area re-designated this time includes places with development prospects such as Seongnam Geumto Public Housing District and Pangyo Techno Valley, where cases of damage caused by false and exaggerated advertisements from planned real estate have occurred.

Accordingly, the province had designated this area as a land transaction permission zone in March 2020.

When designated as a land transaction permission zone, transactions of land exceeding 100㎡ within the designated area require permission from the head of Sujeong-gu Office, Seongnam City.

A provincial official explained, "We re-designated the area as a land transaction permission zone to block real estate speculation forces and prevent it in advance," adding, "We plan to take measures to prevent real estate speculation, such as expanding land transaction permission zones if necessary through continuous monitoring of transaction trends across the entire Gyeonggi Province."

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