Seoul Designates Eight New Rapid Integrated Planning Sites and Others as Land Transaction Permission Zones

Rapid Integrated Planning Housing Redevelopment Sites Designated for One Year Starting July 29
13 Rapid Integrated Planning Sites and 10 Public Redevelopment Sites Re-designated Ahead of Expiration

The Seoul Metropolitan Government has designated eight new sites selected for the Rapid Integrated Planning initiative, as well as existing Rapid Integrated Planning and Public Redevelopment sites, as Land Transaction Permission Zones.

On the 29th, the city announced that, during the 7th Urban Planning Committee's Subcommittee on Delegated Authority, it newly designated eight areas (totaling 392,329.7 square meters) selected as housing redevelopment candidates through the third candidate site selection committee for Rapid Integrated Planning as Land Transaction Permission Zones.

The newly designated areas are: around 29-1 Sinchang-dong, Yongsan-gu; around 466 Guro-dong, Guro-gu; around 153-19 Gaebong-dong, Guro-gu; around 641 Banghak-dong, Dobong-gu; around 344-132 Sindaebang-dong, Dongjak-gu; around 204-104 Heukseok-dong, Dongjak-gu; around 201 Sangdo-dong, Dongjak-gu; and around 277 Samseon-dong 1-ga, Seongbuk-gu. The designation period is from the 29th of this month until August 30 next year.

Thirteen existing Rapid Integrated Planning redevelopment and reconstruction sites, as well as ten Public Redevelopment sites, have been re-designated as Land Transaction Permission Zones for one year, until August 30, 2026. These areas, which were designated last year, were proactively re-designated ahead of their expiration on the 30th of next month to prevent speculative demand from entering the market.

The Land Transaction Permission Zones for around 419 Sillim-dong, Gwanak-gu and around 345-1 Mia-dong, Gangbuk-gu will be adjusted to reflect changes in the project boundaries. For around 419 Sillim-dong, Gwanak-gu, the project area will be adjusted (from 43,247 square meters to 37,771.3 square meters) as urban natural parks and religious facilities are excluded from the redevelopment target. For around 345-1 Mia-dong, Gangbuk-gu, the project area will be adjusted (from 44,061 square meters to 45,479.5 square meters) due to the incorporation of surrounding roads for smoother traffic flow and the creation of school routes, as well as the exclusion of religious facilities.

The existing Rapid Integrated Planning redevelopment site around 183 Songpa-gu will have its Land Transaction Permission Zone partially adjusted (from 79,069.0 square meters to 77,338.4 square meters) to reflect residents' opinions on the project boundaries.

Once an area is designated as a Land Transaction Permission Zone, any transfer or establishment of ownership or superficies rights for land shares exceeding 6 square meters in residential areas or 15 square meters in commercial areas requires prior approval from the head of the relevant district office.

Choi Jinseok, Director of Housing at the Seoul Metropolitan Government, stated, "We have taken this measure because we determined that, if the designation is lifted in areas with high development expectations, there is a significant risk of speculative demand entering the market." He added, "We will continue to closely monitor housing market trends and maintain a transparent market order focused on genuine demand."