President Lee Jae-myung pledged to halve the delayed groundbreaking time for third-phase new towns and said the government aims to normalize the housing market rather than forcibly lower prices.
Published by Seoul Economic Daily (English). Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Korea's Land Minister Kim Yun-duk and Seoul Mayor Oh Se-hoon met to discuss housing supply expansion and easing redevelopment regulations, though no specific 10,000-unit Yongsan plan was agreed.
Korean real estate experts say the government's public-led "supply at all costs" push cannot solve the housing crunch alone, urging a four-pronged approach as Seoul apartment prices rise for 75 straight weeks.
Korea's FSC plans to ease group loan caps for housing supply while cutting the jeonse loan public guarantee ratio to 70% and restricting non-resident single-home owners, with measures due by the 30th.
Apartment price gains are cooling in Dongtan and Yeongtong but spreading to Bundang (0.58%) and Suji (0.50%) in southern Gyeonggi, per Korea Real Estate Board data for the third week of July.
President Lee Jae-myung vowed to review cutting third-phase new town construction to less than half and to scout land sites by helicopter, at a national real estate policy debate.
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