Amid speculation that Mapo and Seongdong-gu in Seoul will soon be designated as regulated real estate areas, buyers rushed to sign apartment contracts and secure loans during the recent Chuseok holiday, driving up prices for mid-sized apartments. Landlords had been raising prices in anticipation of the restrictions, and buyers feared that new regulations would make purchases more difficult. The government, under President Lee Jae-myung, is preparing its third real estate policy package, expected to expand regulated zones in Seoul and Gyeonggi Province. Areas likely to be included are Seoul’s Han River Belt districts—Mapo, Seongdong, Gwangjin, Yangcheon, Gangdong, Yeongdeungpo, Dongjak—and Bundang in Seongnam and Gwacheon in Gyeonggi-do. Minister of Land, Infrastructure, and Transport Kim Yoon-deok indicated that expansion of regulated areas is inevitable. Additionally, the government plans to broaden the land transaction permit zones (Toheo-gu), which currently cover strategic redevelopment areas, potentially encompassing all of Seoul, the Han River Belt, and parts of Gyeonggi-do. Buyers in Toheo-gu zones must reside in the property for at least two years, preventing speculative “gap investments.” Lending regulations are also expected to tighten further, including lowering the metropolitan mortgage loan cap and applying the debt service ratio (DSR) to certain long-term deposit loans. Overall, these measures aim to curb speculation and stabilize the overheated housing market in Seoul and surrounding regions.     (ICE SEOUL)

Fonte notizia: THE HANKYOREH