4.15 Million Pyeong of Military Relocation Site in Gunwi-gun, Daegu Designated as Land Transaction Permission Zone for 5 Years

Daegu City has announced that, following the selection of the new consolidated military base site on the 5th of last month, it will designate and officially announce an area of 13.7㎢ (4.15 million pyeong) in Ingok-ri, Samgukyusamyeon, Gunwi-gun as a Land Transaction Permission Zone in order to facilitate the smooth progress of the military base relocation project and to prevent speculative land transactions in the region. This designation will take effect from the 10th and will remain in place for five years, during which land transaction contracts in this area will require permission.

An official from Daegu City stated, "For the next five years, anyone wishing to trade land exceeding 500㎡ of farmland, 1,000㎡ of forest land, or 250㎡ of other types of land in this area must obtain permission."

Daegu Gunwi County Integrated Military Unit Relocation Site

The area newly designated as a Land Transaction Permission Zone this time is the planned site for the Scientific Training Center, excluding the Military Town and Civil-Military Coexistence Town areas already included in the Land Transaction Permission Zone designated in July 2023.

Daegu City explained that the area was designated as a Land Transaction Permission Zone because of high rates of land price fluctuation and transaction volume, as well as concerns over speculative transactions and a sharp rise in land prices, in order to prevent such issues.

Accordingly, for real transaction reports made after the announcement of the Land Transaction Permission Zone, the city will thoroughly review funding plans and supporting documents to strictly verify any abnormal transactions, such as illegal gifts.

Going forward, Daegu City plans to continuously monitor real estate transaction trends and flexibly operate the land transaction permission system, including gradually lifting the designation if reasons such as land price stabilization arise.

Heo Jooyoung, Director of Urban Housing at Daegu City, stated, "The designation of the Land Transaction Permission Zone is not simply a real estate regulation, but an unavoidable and essential measure to ensure the smooth progress of a national project. We will do our best to minimize inconvenience to citizens by shortening the processing period for land transaction permissions as much as possible."

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