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S. Korea moves to curb rising speculation in housing market
The Straits Times
|March 20, 2025
South Korea plans fresh curbs on housing transactions in Seoul as Acting President Choi Sang-mok vowed to take "all available steps" to prevent a frenzy in the property market that could potentially complicate efforts by policymakers to shore up the economy.
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SEOUL -
The government said on March 19 it will designate the districts of Gangnam, Seocho, Songpa and Yongsan in the capital as areas where apartment buyers must seek permits.
The Ministry of Land, Infrastructure and Transport said in a statement the number of areas may increase if the housing market overheats, and regulations on housing loans will also be tightened.
"The government recognises the seriousness of the real estate market situation and will work in coordination with relevant ministries and local governments to respond firmly to prevent the spread of housing price instability," Mr Choi said in comments e-mailed separately.
Dit verhaal komt uit de March 20, 2025-editie van The Straits Times.
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