Seongnam new housing site 6,300 groundbreaking 1 announced to be brought forward
Deputy Prime Minister Koo Yun-cheol said construction would begin at the Seongnam new housing site 6,300 site 1 years earlier, 2029and announced it would start in . The government said it would make expanding housing supply and starting construction early its top priorities and manage the entire process.
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Deputy Prime Minister Koo Yun-cheol said at a meeting of ministers responsible for real estate, held at the Government Complex Seoul, that construction at the Seongnam new housing site 6,300 site 1 would begin earlier. He explained that the schedule would be accelerated by integrating the planning procedures. The remarks were made as part of the government's plan to accelerate housing supply.
The government said it was making every effort to prioritize expanding housing supply and starting construction early. 1In 29, it said it would manage the entire process to ensure that the supply measures announced on are swiftly followed by the start of construction. The meeting was held with a view to strengthening procedural management of public housing projects.
In addition to Seongnam, sites with a capacity of 2,800 units each in Dongdaemun-gu and Eunpyeong-gu were also mentioned. The government said it would promptly draw up relocation plans for each institution within the year and expedite the related procedures. The schedule will be finalized through consultations with relevant institutions.
The deputy prime minister noted that, in regulated areas of the capital region, approximately 10ten-thousand-home-scale housing construction starts have been delayed due to financing problems, supply of materials, rising construction costs and other factors for 1years or more. He said the causes of construction delays would be closely monitored on the ground. He said comprehensive support would be provided if necessary.
He said management of public housing project procedures, including compensation and site preparation, would also be strengthened. Referring to past problems with compensation and site preparation, he reaffirmed his intention to improve the procedures. He said tighter management of the procedures would be linked to bringing forward the start of construction.
He assessed that the rate of increase in Seoul apartment sale prices had slowed somewhat. The government said it would closely monitor market conditions until price stability became clear. It said it would continue policy responses if necessary.