민간택지 분양가상한제 적용기준 개선 추진<br /><br />The Moon administration has tried a few things to cool down Korea's overheated housing market, and now it's announced a big new measure a price ceiling system for apartments.<br />Our Hong Yoo reports.<br />The Ministry of Land, Infrastructure and Transport made the announcement on Monday morning following consultations between the government and ruling party.<br />The newly-adjusted price ceiling system on privately-owned housing sites will be applied in October at the earliest.<br />Currently, a price ceiling system, which decides the parcel price of apartments by adding a basic building cost set by the government, only applies to public housing apartments.<br />During the Roh Moo-hyun administration in the mid-2000s, such a system was applied to privately-owned housing sites, but it ended up existing in name only as it was difficult to apply due to a contracting housing supply and a deterioration in apartment quality<br />On Monday, the government said it will be easing some of the prerequisites in applying the new system.<br />Currently, regions where house prices have increased at twice the inflation rate during the previous three months have a price ceiling imposed on them.<br />But with the reform, regions designated as a speculation-prone zones will be given a price ceiling automatically.<br />The specific zones will be revealed when the finalized legislation is ready.<br />Currently, the government designates older apartment blocks that are being renovated as apartments that require price ceilings at the stage of planning for distribution and management.<br />This means the government cannot put price ceilings on such apartments that don't get a cap when people start buying the apartments.<br />But with the reform, the price ceiling can be applied at the stage where residents are allowed to buy.<br />To prevent side effects from the price cap measure, such as selling the apartment after the required maximum 4 years of resale prohibition to make capital gains, the government has expanded the prohibition period to a maximum of 10 years.<br />With such reforms, the government expects to protect consumers from over-priced housing.<br />Hong Yoo, Arirang News.<br />
