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As early as the 17th, the government plans to additionally designate a region where house prices overheat due to the balloon effect among non-regulated regions as early as the 17th.
On the 16th, the Ministry of Land, Transport and Maritime Affairs proceeded with the Housing Policy Deliberation Committee (state judge) procedure to designate areas with steep increases in housing prices as additional areas subject to adjustment.
Earlier last month, the Ministry of Land, Infrastructure and Transport announced that it will consider additional designation for areas where overheating continues, while 7 places including Haeundae, Dongnae, Nam, Yeonje, Suyeong-gu, Daegu, Suseong-gu, and Gimpo, Gyeonggi-do were designated as target areas.
According to data from the Korea Real Estate Agency’s national housing price trend survey, among the non-regulated regions of the region, the high rates of increase in housing prices in the past three months are in Paju, Cheonan, Ulsan, and Changwon.
An official from the government said, “The deliberation by the state governorship will continue tomorrow (17th), and the target area may be announced as early as late in the afternoon.” “The local government, like Changwon, suggested the government to designate a target area for coordination. It is highly likely to be tied to an additional regulated area.”
He said, “It will not be widespread, but the agenda also included a plan to release some areas from the areas subject to adjustment.”
In order to designate an area subject to adjustment, the rate of increase in housing prices in the area must exceed 1.3 times the rate of increase in consumer prices over the last three months.
Reinforced taxation when designated as a target area for adjustment (excluding special deductions for acquisition tax and transfer tax for multi-homeowners, special deduction for long-term holdings, additional taxation on comprehensive real estate tax for holders of two or more houses in the target area), and strengthening financial regulations (50% of the housing mortgage loan ratio less than 900 million KRW 30% of the excess is applied, when purchasing a house, the principle of prohibition of the host family excluding the purpose of living in the house), and strengthening of subscription regulations are applied.
In addition, a financing plan must be submitted to purchase a house in an area subject to adjustment.
Reporter Lim Hyo-jin [email protected]
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