Gwangyang City in Jeollanam-do has been newly designated as a housing unsold management area.
The Housing and Urban Guarantee Corporation (HUG) announced on the 30th that Gwangyang City in Jeollanam-do (excluding government-regulated areas) and Geoje City in Gyeongsangnam-do have been designated as the 63rd housing unsold management areas. Until last month, Geoje City was the only housing unsold management area, but this month Gwangyang City has been newly included.
Gwangyang City was selected due to factors such as an increase in unsold houses, low resolution of unsold houses, and concerns about unsold houses. Although Geoje City did not meet these criteria, it was classified as an area requiring monitoring, so it remains a housing unsold management area.
As of the end of last month, the total number of unsold houses in the housing unsold management areas was 2,167, accounting for about 15.4% of the nationwide total of 14,075 unsold houses.
Developers who intend to acquire project sites for housing supply in the housing unsold management areas must undergo a preliminary review for sales guarantee.
Even if the land has already been purchased, it is important to note that a prior review is required to obtain the sales guarantee.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
