LH to Supply 110 Residential Land Lots This Year... 80% Increase Compared to Last Year

On the 23rd, from 1:30 PM, online event on YouTube channel 'LH Hanguk Toji Jutaek Gongsa'

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) will supply 110 residential land lots this year, an 80% increase compared to last year.

On the 22nd, LH announced that it will hold the "2022 Residential Land Supply Plan Briefing" online on the 23rd. The briefing provides an opportunity to understand LH's annual supply volume and timing for residential land, attracting significant interest from the construction industry every year.

This year, LH plans to supply 110 residential land lots totaling 3.88 million square meters, an 80% increase compared to last year's supply area (59 lots, 2.16 million square meters). This corresponds to approximately 60,000 housing units. Excluding lots for which preferred negotiation partners have been selected or sales completed by February, the currently available supply is 72 lots, 2.41 million square meters, enabling the construction of about 40,000 housing units.

By region, the supply volume is △ 40 lots, 1.22 million square meters in the metropolitan area △ 32 lots, 1.19 million square meters in provincial areas, accounting for 50.5% and 49.5% respectively by area.

By supply type, the lots offered through lottery and bidding in 37 districts nationwide, including the 3rd New Towns, total 48 lots, 1.47 million square meters. The lots supplied through public offering include △ rental housing construction type with 18 lots, 710,000 square meters △ housing development public offering REITs type with 4 lots, 130,000 square meters △ design evaluation type with 2 lots, 100,000 square meters.

However, supply methods and volumes may change due to government policy changes. Any changes will be promptly announced through the LH subscription center.

Kang Osun, Head of LH Sales Planning Department, said, "We hope the residential land disclosed through this online briefing will help customers establish their business plans for this year," adding, "We expect the supplied volume to contribute to future real estate stabilization."

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