Crackdown on Speculation and Share Splitting in Some Real Estate Agencies
Introduction of Resident Reporting System, Change of Rights Assessment Date, and Building Permit Restrictions Implemented as Countermeasures
Gwangjin-gu (District Mayor Kim Kyung-ho) has taken a strong stance against speculative forces in the Moa Town project.
With the promotion of the Moa Town project in the area, the district is determined not to tolerate any speculative activities such as gap investment and share splitting that could harm residents.
Moa Town is a small-scale housing maintenance project designed to develop areas where new and old houses are mixed, making large-scale redevelopment difficult, in a planned and efficient manner.
Currently, in Gwangjin-gu, the Moa Town project area is sharply divided between supporters and opponents. Amid this, the influx of external speculative forces has heightened residents' anxiety, leading to a surge in complaints.
In response, the district has prepared countermeasures to ensure the project operates according to its original purpose of improving the residential environment. A firm decision has been made to resolve resident conflicts and eliminate real estate speculation.
First, strong crackdowns will be implemented against speculative activities by real estate agencies. A resident reporting system will be introduced, and prior guidance and cooperation will be sought through meetings with local real estate agencies. Additionally, on-site inspection teams will be operated to completely block inappropriate brokerage activities.
The standard date for rights calculation will be moved forward. The existing standard date is the day Seoul City selects the target site. However, since site selection takes more than three months, concerns about speculation and share splitting arise. Changing the rights calculation standard date to the project application submission date will suppress speculative demand.
Restrictions on building permits will also be considered. In cases where ▲ the Moa Town target site is selected, or ▲ the Moa Town management plan secures more than 50% resident proposal agreement and requests it, active consideration will be given to restricting building and construction permits, and a request will be made to Seoul City.
Kim Kyung-ho, Mayor of Gwangjin-gu, stated, “As the Moa Town project becomes more concrete, we judged that speculative forces are entering and negatively affecting the project, so we have prepared countermeasures. We will do our best to block speculative forces in advance, protect the property rights of original residents, and ensure the smooth progress of the project.”
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