Ulsan 'Seonbawi Public Housing District' Re-designated as Land Transaction Permission Zone for One Year

Strengthening Approval Standards, Allowing Only Genuine Demanders

The area of ‘Ulsan Seonbawi Public Housing District’ will be redesignated as a land transaction permission zone.

Ulsan City announced on the 3rd that 3.28㎢ of Ipam-ri, Beomseo-eup, Ulju-gun will be redesignated as a land transaction permission zone for one year from May 5, 2023, to May 4, 2024.

Previously, the Ministry of Land, Infrastructure and Transport had designated the Ipam-ri area as the ‘Ulsan Seonbawi Public Housing District’ under the ‘3080+ Metropolitan Area Housing Supply Expansion Plan’ aimed at securing 250,000 new public housing units nationwide, and initially designated it as a land transaction permission zone for two years from May 5, 2021, to May 4, 2023.

Topographic map of the land transaction permission zone.

In particular, this area was designated and announced as a public housing district on January 20, 2023, and the project is currently underway.

Ulsan City has redesignated the originally designated area as a land transaction permission zone for one year in accordance with Article 10 of the ‘Act on Reporting and Inspection of Real Estate Transactions’ to preemptively block speculative land transactions and stabilize the real estate market.

To enhance the effectiveness of the land transaction permission system, the land area criteria requiring permission from the Ulju-gun governor when concluding land transaction contracts have been strengthened as follows: for residential areas, from ‘over 180㎡’ to ‘over 60㎡’; for commercial areas, from ‘over 200㎡’ to ‘over 150㎡’; and for industrial areas, from ‘over 660㎡’ to ‘over 150㎡’.

An official from Ulsan City stated, “For smooth project implementation, land transactions exceeding a certain area must obtain permission for the land transaction contract from the Ulju-gun governor, and land acquisition is only allowed for actual demanders.”

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