Seoul Greenbelt Restricted Since 8·8 Measures, Land Transaction Permission Zone Lifted

The temporary designation of land transaction permission zones within the Greenbelt, related to the government's August 8 housing supply activation plan, has been fully lifted.

The government announced the release of the Greenbelt (development-restricted area) within the metropolitan area, discovering new housing sites totaling 80,000 units, with 50,000 units this year and 30,000 units next year. The photo shows the development-restricted area around Naegok-dong, Seocho-gu, Seoul, which is strongly considered for Greenbelt release as of the 9th. Photo by Yongjun Cho jun21@

On the 4th, the Seoul Metropolitan Government held the 16th Urban Planning Committee meeting and announced on the 5th that it had lifted the land transaction permission zone of 125.09㎢ within the Greenbelt, excluding developed areas. The collective settlement district (69,743.9㎡) around Umyeon-dong and Sinwon-dong in the Seoripul project area was re-designated.

Previously, on August 7, the city temporarily designated the entire Seoul Greenbelt as a land transaction permission zone to block speculative forces ahead of the Greenbelt lifting announcement. To buy or sell land in areas designated as land transaction permission zones, approval from the head of the local government was required.

Along with this, the city also lifted the land transaction permission zone in parts of the Suseo Station area within the natural green zone (development restriction zone) of Gangnam and Seocho districts, where compensation procedures have been completed and there is no obstacle to promoting development projects. The permission zones in Suyu-dong, Gangbuk-gu, and Namgajwa-dong, Seodaemun-gu, which were canceled as candidates for the rapid integrated planning redevelopment, were also lifted.

A Seoul city official stated, "In the future, if it is judged that the reasons for designation, such as speculative transactions or rapid land price increases, no longer exist in designated permission zones, we plan to actively review and adjust by lifting the designation."