Choo Mi-ae calls for swift lifting of land transaction permission zones

Gyeonggi Province Governor Choo Mi-ae said on the 19th that while land transaction permission zones are effective at preventing reselling speculation, they do nothing to curb rising home prices, and that they should be lifted quickly, starting with areas where they are no longer needed, based on policy effectiveness. Speaking during a parliamentary audit of Gyeonggi Province by the National Assembly's Land, Infrastructure and Transport Committee held at the provincial government office in Suwon, Governor Choo responded to questions from People Power Party lawmakers Kim Eun-hye and Jung Hui-yong, saying, "We are conveying to the government the view that permission zones designated for speculative purposes — excluding long-term projects such as new city development — need to be lifted quickly according to policy effectiveness."

It was confirmed that Gyeonggi Province has been formally and informally pressing the central government to lift the permission zones, while continuously tracking conditions and monitoring related developments for reporting purposes.

According to an analysis of the Korea Real Estate Board's weekly apartment price index, in 11 of the 12 Gyeonggi areas designated under the October 15 real estate measures last year, apartment price growth over the year following designation was higher than in the preceding year.