LH to Supply 55 Residential Land Lots This Year... Related Briefing Session to Be Held on the 16th

Korea Land and Housing Corporation (LH) will hold a briefing session to announce the supply schedule for 55 residential land lots (1.96 million㎡) planned for this year.

LH announced on the 15th that it will hold the "2023 Residential Land Supply Plan Briefing" on the 16th at the Gyeonggi Southern Regional Headquarters' main conference room.

According to LH, a total of 55 residential land lots are scheduled to be supplied after March, accommodating approximately 32,000 housing units. Among these, 43 lots (1.48 million㎡), excluding 12 lots designated for public-supported private rental housing, are currently available for supply, enabling the construction of about 23,000 housing units. The 12 lots for public-supported private rental housing will be publicly offered through individual bidding.

By region, the supply volume is planned as 30 lots (940,000㎡) in the metropolitan area and 13 lots (540,000㎡) in provincial areas.

By supply type, a total of 33 lots (1.08 million㎡) will be supplied through lottery, bidding, and private contracts across 27 districts nationwide, including the 3rd New Towns. The lots supplied through public offering include 9 lots (360,000㎡) for rental housing construction and 1 lot (40,000㎡) for housing development public offering REITs.

However, the supply method and volume may change due to government policy revisions. Any changes will be promptly announced through the LH subscription center.

Kang Osun, Head of LH Sales Planning Department, said, “As the supply of residential land in the 3rd New Towns such as Hanam Gyosan and Namyangju Wangsuk begins in earnest this year, we hope this briefing will help construction and implementation companies secure quality lots and assist in future project planning.”