The government has announced 50,000 new housing sites in the Seoul metropolitan area, including 20,000 in downtown Seoul.
The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government announced today the selection of 9,400 units in Goyang Daegok Station Area, 14,000 units in Uiwang A.M. and Wanggok District, and 7,000 units in Uijeongbu Yonghyeon District, including 20,000 units in Seoul's Gangnam district.
The move is a follow-up to the August 8 housing supply revitalization plan, which announced downtown Seoul and areas within 10 kilometers of the Seoul border, where quality housing and jobs can be provided, as new housing candidates.
Among the housing sites, 31,000 households, 55%, will be supplied as long-term lease housing for newlyweds in the Surrey Pool district in downtown Seoul.
The Ministry of Land, Infrastructure and Transport has decided to shorten administrative procedures such as district designation in the first half of next year, the first sale in 2029, and the first move-in in 2031, launching a compensation investigation before designation and early establishment of district plans.
According to the Ministry of Land, Infrastructure and Transport, the newly announced districts have already been damaged and are underdeveloped or concerned about development restrictions with low environmental preservation value.
In addition, the announcement said that four types of anti-speculation measures will be thoroughly implemented to eradicate speculation in the district: prevention and detection, punishment and recovery.
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