Uijeongbu-si Designates Land Transaction Permission Zone for Public Housing Districts in Singok and Yonghyeon-dong

Applied for 5 Years Until November 9, 2029

Uijeongbu City, Gyeonggi Province (Mayor Kim Dong-geun) announced on the 8th that the Yonghyeon Public Housing District, selected as a new housing site candidate, has been designated as a land transaction permission zone.

Uijeongbu City has designated the Yonghyeon Public Housing District, selected as a new housing site candidate, as a land transaction permission zone. Photo by Uijeongbu City

On the 5th, the Ministry of Land, Infrastructure and Transport announced Yonghyeon Public Housing District as a new housing site candidate as a follow-up measure to the "Housing Supply Activation Plan." Accordingly, the city designated the area as a land transaction permission zone to prevent land price increases and speculative transactions.

This designation will be applied for five years from November 10, 2024, to November 9, 2029.

If land exceeding a certain area is acquired in the Singok and Yonghyeon-dong areas, the purpose of use must be disclosed and prior permission must be obtained.

The area criteria requiring permission are exceeding 60㎡ in residential areas, 150㎡ in commercial and industrial areas, and 100㎡ in green areas.

If a transaction contract is concluded without permission, imprisonment for up to two years or a fine of up to 20 million KRW may be imposed, and the land must be used according to the permitted purpose for a certain period after approval. In case of violation of the purpose, a performance penalty of up to 10% of the acquisition price may be imposed annually.

Accordingly, the land transaction permission zones designated by the city include 7,720 parcels (7.24㎢) in Singok and Yonghyeon-dong, newly designated housing site candidates by the Ministry of Land, Infrastructure and Transport, and 2 parcels (0.09㎢) in Nakyang-dong designated by the Governor of Gyeonggi Province due to concerns over speculative real estate planning.

An official from Uijeongbu City stated, "This measure is to proactively block speculative transactions and land price increases around the newly designated housing sites," adding, "We will prevent speculative transactions and excessive land price increases through continuous monitoring and create a stable residential environment."