Yongin City Raises Apartment Remodeling Floor Area Ratio to 300%

[Asia Economy (Yongin) = Reporter Lee Young-gyu] Yongin City in Gyeonggi Province has raised the floor area ratio (FAR) for remodeling apartment complexes within housing development districts to a maximum of 300%.

On the 19th, Yongin City announced a decision to amend the district unit plan for housing development districts reflecting this change. The applicable areas are the third-class general residential zones within 18 housing development districts across Cheoin, Suji, and Giheung districts of Yongin City.

The current FAR allowed for remodeling apartments in these housing districts ranges from 170% to 210%. With the amendment to the district unit plan, the FAR will be increased by a minimum of 70% up to a maximum of 130%.

Additionally, the city has allowed apartment complexes within the housing districts to apply the general area's FAR of 290% as stipulated in the Yongin City Urban Planning Ordinance, adding an extra 10% FAR relaxation in accordance with the Green Building Promotion Act and the Building Act.

This figure is higher than the FAR of surrounding areas such as Suwon and Seongnam, which is 280%.

Yongin City expects that the remodeling projects for aging apartments within the housing development districts, which had been difficult to promote due to low FAR limiting the increase in the number of units and expansion of residential exclusive areas, will be revitalized.

Apartment remodeling is applicable to complexes that have passed 15 years since their approval for use under the Housing Act, allowing extensions within 30% of the residential exclusive area (up to 40% for units under 85㎡) and within 15% of the existing number of units.

Currently, remodeling is underway in 10 apartment complexes in Yongin City.

A city official stated, "We visited Seoul and Seongnam, where many apartment remodelings are underway, to consult and carefully review before implementing the FAR relaxation," emphasizing, "We will continue to establish related policies for planned urban management."