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Gov't to supply more homes, develop unused sites in capital area

2020-08-04 16 Dailymotion

서울권역 13만호+a 추가 공급, 공공 재건축 50층까지 허용...정부 주택공급 방안 대책 발표<br /><br />The South Korean government has unveiled additional plans to increase housing supply in the capital area to stabilize the overheating real estate market.<br />For more on this, I have our Yoon Jung-min on the line for us.<br />Jung-min, walk us through what was revealed.<br />Mark. First, the government says it will supply more than 130-thousand additional homes in Seoul and the surrounding areas.<br />That brings the total number of new homes announced recently to 260-thousand in total.<br />To do that, the government plans to develop unused sites in the capital area.<br />Those include a golf course in Taereung, Seoul.<br />Other undeveloped areas include military sites and state-owned land.<br />Finance minister Hong Nam-ki said however, that the government has no plans to allow further building on greenbelt areas.<br />The government will raise the floor area ratio by up to 500 percent for reconstruction,... for firms working with public institutions like Korea Land & Housing Corporation.<br />Also, reconstructed apartment buildings can go up as high as 50 floors.<br />Currently, those buildings in Seoul can go up no higher than 35 floors.<br />The government will prioritize securing houses for those who don't own their home,... particularly young people and couples not yet on the property ladder.<br />This afternoon, the ruling party plans to put to a vote revisions on real estate policy,... including raising tax rates on those who own multiple homes,... particularly in speculative areas.<br />That's all from me now, but I'll bring you updates for our later newscasts. Mark.<br /><br />

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