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The government has decided to extend the cap on the sale price, which was only applied to public housing, to private apartments in order to recover the housing prices. Two months later, it is scheduled to be implemented in October, but the plan is to determine the specific area and timing of the application based on the situation at that time.

I'm Hwa Kang Yoon

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The government has revised the Housing Act to change the ceiling on the sale price for private housing.

31 speculative superheat districts across Seoul, Gyeonggi-do Gwacheon, Seongnam-si, Bundang-gu and Sejong-si were in the upper limit.

[Lee, Moon Ki / Head of Housing and Land Department, Ministry of Land, Infrastructure and Home Affairs: This is to keep the price of the sale at an appropriate level to facilitate the establishment of the home of the real user and to stabilize the housing market.]

The application time limit for the sale price was also changed to the day when the first application for recruitment was approved for maintenance projects such as reconstruction and redevelopment.

Even if you are already authorized for disposal and are currently in the process of relocation and removal, the upper limit may be applied.

As a result, 76 complexes and 72,000 homes in Seoul were affected by the ceiling.

The government expects that the sale price will fall 20-30% from the market price if the sale price cap is enforced.

The Institute for Home Economics estimates that the increase in house prices will drop 1.1 percentage points annually if the high pre-sale price drags off the price hike.

Lower prices may lead to speculative demand for profit margins, and the government will block the sale by increasing the time limit for resale.

What is now 3-4 years will increase to 5-10 years.

The amendment to the Housing Act Enforcement Decree will be implemented in early October after the Legislative Notice and the State Council.

However, the specific area and timing of the application of the cap is decided by the Housing Policy Review Committee in consideration of the market situation, leaving room for speed adjustment.