LH to Purchase 40,000 Houses This Year... 'Housing Sales Open Market' to Be Held on the 26th

원본보기 아이콘

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 20th that it will hold a housing purchase business briefing session called the ‘Housing Purchase Open Market’ at the COEX Grand Ballroom on the 26th.

The ‘Housing Purchase Open Market’ has been held since 2018 to promote the purchase rental business and encourage private sector participation, marking its fourth year this year. It has attracted significant interest every year from private housing construction companies, developers, homeowners wishing to sell, and brokers. The purchase rental business secures housing by LH purchasing existing houses in urban areas or entering into pre-purchase agreements for houses under construction or planned by the private sector, and then buying them after completion. These houses are rented out at prices lower than market rates to non-homeowners such as young people and newlyweds.

LH plans to purchase 39,593 houses this year, of which more than 80% will be newly constructed houses under pre-purchase agreements. Looking at the purchase volume by region, 27,177 houses will be purchased in the metropolitan area, accounting for 68% of the total volume. In provincial areas, 12,416 houses are planned to be purchased.

Ha Seungho, Head of LH’s National Housing Welfare Headquarters, said, "This briefing session was held to encourage active participation from the private sector and strengthen communication," adding, "It is expected that public and private sectors working together will establish a mid- to long-term housing supply foundation, secure stable volumes, and improve the quality of purchased houses."

Meanwhile, since the Housing Purchase Open Market began in 2018, LH has purchased a total of about 85,000 houses up to last year.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.