Incheon Gyeyang Technovalley Land Transaction Permission Zone 8.4㎢ Lifted

The land transaction permit zone for the Incheon Gyeyang Technovalley New Town and surrounding areas will be lifted on the 26th.

The area to be deregulated was designated as a land transaction permit zone in December 2018, covering 4,502 parcels (8.4㎢) in Gyeyang-gu's Gyulhyeon, Dongyang, Bakchon, Byeongbang, Sangya, and Bangchuk-dong.

Once the land transaction permit zone is lifted, land transactions can be conducted without approval from the district office. The obligation to use the land for actual residence, which applied to 96 parcels approved before the deregulation, will also be removed. After this deregulation, the remaining land transaction permit zones in Incheon will be three areas (20.78㎢): Geomam Station area, Daejang District, and Guwol 2 Public Housing District.

An Incheon city official stated, "Gyeyang Technovalley was removed from the land transaction permit zone as compensation and construction have been completed and land prices have stabilized," adding, "We expect this measure to make it easier for residents to exercise their property rights."

Meanwhile, the Gyeyang Technovalley Public Housing District is one of the 3rd New Towns designated by the government in October 2019 to stabilize the metropolitan housing market. Groundbreaking took place last November. On a site of 3.33 million square meters, 17,000 housing units, including youth housing, are planned to be built with a target move-in date in the first half of 2026.

Land Transaction Permission Zone to be Lifted for Gyeyang Technovalley Map [Provided by Incheon City]

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