Daegu City Lifts 70% of Gunwi Land Permit Zones After 6 Months... Development Sites Not Included

Daegu City announced on the 21st that it has lifted the designation of land transaction permission zones for about 70% of Gunwi County, which was previously designated as a land transaction permission zone to prevent speculative transactions and rapid land price increases following the incorporation of Gunwi County. This applies to areas not included in the planned development sites or those recognized as having low potential for rapid land price increases and speculation. This action follows the 'Comprehensive Urban Spatial Development Plan for Gunwi County' announced on the 11th.

Following the incorporation of Gunwi County into Daegu City on July 1, 2023, Daegu City had designated the entire Gunwi County as a land transaction permission zone on July 3, 2023, to prevent speculative land transactions, rapid land price increases, and to preemptively block planned real estate fraud, thereby protecting the property rights of Gunwi residents and ensuring the successful promotion of future development in Gunwi County.

Daegu Gunwi County Office.

This adjustment of the land transaction permission zone is a measure to immediately lift the designation from areas not included in the confirmed development sites according to the 'Comprehensive Urban Spatial Development Plan for Gunwi County' announced on the 11th, as well as areas identified through continuous real estate monitoring as having low instability in land prices and low speculation potential. This measure aims to successfully promote the development plan, protect the property rights of Gunwi residents, and minimize inconvenience to residents.

The total area being lifted from the designation is 423.9㎢, which accounts for about 70% of the total area of Gunwi County. By township, the areas are as follows: Sobomyeon 56.9㎢, Hyoryeongmyeon 86.9㎢, Bugyemyeon 54.4㎢, Ubomyeon 31.4㎢, Uihyeongmyeon 48.4㎢, Sanseongmyeon 31.3㎢, and Samgukyusamyeon has been fully lifted. However, Gunwi-eup remains designated as a land transaction permission zone due to unstable indicators such as land price fluctuation rates and concerns about speculation.

Within the permission zones, if the transaction area of land by usage exceeds 60㎡ for residential areas, 150㎡ for commercial and industrial areas, and 200㎡ for green areas in urban regions, or exceeds 500㎡ for farmland, 1000㎡ for forest land, and 250㎡ for other land types outside urban areas, the parties involved in the transaction must obtain land transaction permission from the Gunwi County Office before signing the sales contract.

There is an obligation to use the land for the permitted purpose for 2 to 5 years depending on the usage (2 years for agriculture, livestock, forestry, fishery, and residential use; 4 years for development use; 5 years for others). For genuine users, acquiring land within the permission zone is not difficult.

For real transaction reports submitted after the announcement of the land transaction permission zone, funding plans and supporting documents will be thoroughly reviewed to strictly verify any illegal gifts or abnormal transactions. Additionally, there will be focused investigations into false contract dates intended to evade permission.

Moreover, real estate transaction trends will be continuously monitored, and if there are concerns about rampant speculative transactions or rapid land price increases, measures such as re-designating the area as a land transaction permission zone will be strengthened. Depending on the progress of Gunwi County's spatial development plan, if development plans are confirmed or land prices stabilize, the designation will be lifted step-by-step, operating a flexible land transaction permission system.

Heo Ju-young, Director of the Urban Housing Bureau of Daegu City, stated, “The adjustment of the land transaction permission zones is limited to areas with speculation concerns and development project districts to protect the property rights of local residents by preventing land speculation and land price increases following the announcement of the comprehensive urban spatial development plan and blocking planned real estate fraud. We will minimize citizen inconvenience by shortening the land transaction permission processing period of 15 days as much as possible.”

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