Economy · Under review · 3 sources combined
Land Transaction Permit Zone
Review Lifting Based on Results
D-54 Deadline December 31 · Land Transaction Permit Zone designation expires in 12 Gyeonggi regions
In short
Gyeonggi Province Governor Choo Mi-ae is requesting the government to quickly lift the Land Transaction Permit Zone (area-based real estate trading restrictions).
She stated that while it was effective in preventing speculation, it failed to lower rising home prices.
15 regions in Gyeonggi Province remain subject to Land Transaction Permit Zone restrictions.
Key facts
| When | Statement made at the Gyeonggi Province state audit of the National Assembly's Land, Infrastructure and Transport Committee on the 19th. |
|---|---|
| Who | Governor Choo Mi-ae answered questions from People Power Party lawmakers Kim Eun-hye and Jung Hee-yong. |
| What | She stated that the Land Transaction Permit Zone, aimed at curbing speculation, needs to be lifted quickly based on its effectiveness. |
| How | She proposed targeted regulations at the eup-myeon-dong (district-level) unit and did not suggest an across-the-board lifting. |
What it means for me
For residents in Gyeonggi Province's Land Transaction Permit Zones, the real estate transaction procedure varies depending on when restrictions are lifted.
