Daegu Urban Development Corporation Offers Two-Year Interest-Free Installment Sales for Unsold Land... Prepayment Discount Rate Increased from 2.5% to 5.5%

Special Measures to Address Sluggish Land Sales
Delinquency Rate Reduced from 6.5% to 4.9%

Daegu Urban Development Corporation (President: Jeong Myungseop) announced on September 24 that it will implement measures to promote land sales in order to revitalize land parceling. These measures have been prepared to stimulate the local economy and to effectively sell unsold land parcels.

The first measure is the introduction of a two-year interest-free installment payment plan. Under the new policy, instead of the current requirement to pay the balance in full within three months of signing the contract, buyers will be able to pay in interest-free installments over a period of up to 24 months.

Aerial View of Anshim New Town in Daegu City

The second measure is an increase and expansion of the prepayment discount rate. Reflecting current market lending rates, the prepayment discount rate will be raised from the current 2.5% to 5.5%, and this benefit will be expanded to apply not only to land parcels behind development sites before completion but to all types of land parcels.

The third measure is a reduction in the delinquency interest rate. Taking into account deposit bank lending rates and additional interest, the delinquency rate will be reduced from the current 6.5% to 4.9%.

Daegu Urban Development Corporation has recognized that sales of unsold land parcels have been sluggish in recent years. The corporation established these special measures out of concern that if unsold land remains undeveloped and neglected, it could have a negative impact on regional development. The corporation expects that revitalizing land sales through these measures will have a positive effect on related industries such as the real estate sector in the Daegu region.

The inventory asset sales measures will be implemented for six months, from October 2025 to March 2026. The corporation also plans to continuously monitor real estate market conditions and sales status, and to prepare additional improvement measures such as extending the policy period if necessary.

Jeong Myungseop, President of Daegu Urban Development Corporation, emphasized, "We have prepared these inventory asset sales promotion measures in consideration of the recent downturn in the local real estate market and economic conditions. Through these efforts, we will fulfill our responsibility as a public institution by revitalizing the local real estate market and enhancing market competitiveness."

Daegu Urban Development Corporation is committed to creating positive ripple effects across the local economy and laying the foundation for both Daegu citizens and businesses to grow together.

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