The government will supply 2.7 million housing units across the country over the next five years to ensure housing stability.
To this end, regulations on reconstruction and redevelopment will be eased, new types of private urban complex projects that provide various incentives will be created, and the introduction of urban innovation planning zones that are not subject to urban planning regulations will be reviewed.
In addition, new housing sites are continuously created in the metropolitan area, etc., and the first houses in the station area and youth cost housing are sold at 70% or less of the market price to the low-income households.
For the safety of semi-subterranean residents, relocation to public and private rental housing is promoted, and support projects such as housing renovation are also carried out.
Minister of Land, Infrastructure and Transport Won Hee-ryong announced today (16th) at the government complex in Seoul, 'Measures to Realize National Housing Stabilization'.
This is the first housing supply measure announced by the Yun Seok-yeol government.
The supply volume for 5 years from 2023 to 2027 is 2.7 million units (annual average of 540,000 units), and α is 200,000 units from the original promise of '2.5 million + α (alpha)'.
By region, a total of 1.58 million units will be supplied to the metropolitan area, including 500,000 units in Seoul, and 1.12 million units, including 520,000 units in metropolitan areas and special self-governing regions.
By project type, 520,000 units will be supplied for redevelopment/reconstruction in the city center and urban complex projects, and 880,000 units will be supplied for public housing sites such as the 3rd new city.
1.3 million units will also be supplied for private self-propelled projects such as urban development, district unit planning zones, and other general housing projects.
If the previous government promoted a public-led supply plan, the current government relaxed regulations related to the maintenance business and provided various incentives to the private sector to facilitate supply to downtown and station areas with high demand.
First, a plan to reduce the reconstruction fee, which is considered a stumbling block for the reconstruction project, will be unveiled next month.
In addition, improvement plans, such as adjustment of evaluation items, will be announced within the year to make reconstruction safety diagnosis standards easier.
In addition, if you donate rental housing during the maintenance project, you will receive an incentive to raise the floor area ratio up to the legal upper limit, not only in residential areas but also in semi-industrial areas.
However, half of the increased floor area ratio must be donated through public rentals.
At the same time, to overcome the limitations of urban complex projects that only the public can currently promote, a private urban complex project type will be newly established.
Through this, the private sector such as trusts and REITs (real estate investment companies) will become the main actors, enabling high-density complex development in downtown areas and station areas.
In this case, the floor area ratio will be raised to 500%, and if necessary, a new 'Urban Innovation Planning Zone' that is not subject to urban planning regulations will be considered and applied.
For new housing sites, 880,000 units will be supplied in the metropolitan area for 5 years.
More specifically, by next year, around 150,000 candidate sites will be selected and announced, and after next year, they will be sequentially selected and announced in consideration of the market situation.
New housing sites are selected in consideration of direct housing proximity, etc., and in the case of a railway station, it is developed under the concept of a 'compact city' that increases the density of development according to the accessibility of the station by dividing it into an ultra-station area, a station area, and a hinterland with a radius of 300 to 1,000 m.
In order to speed up the development of housing sites, when a public housing district is designated, the preliminary feasibility study for public institutions is exempted for the metropolitan transportation project and the damaged land restoration project after the deliberation by the State Council.
The reorganization of the first new cities in the metropolitan area, such as Bundang and Ilsan in Gyeonggi-do, will be carried out by establishing a master plan for urban renewal in 2024 after conducting research services in the second half of this year.
In addition, integrated deliberation will be introduced to private maintenance projects and urban development projects.
Integrated deliberation is compulsory for public maintenance projects and general housing projects.
In order to increase the supply of housing by activating small-scale maintenance projects, integrated development is allowed when multiple adjacent complexes meet certain business requirements, and the secondary protection of funders for business operators and tax support for union members are also strengthened.
The urban housing construction regulations also increase the total number of households from 300 to 500, and ease the upper limit of the two-room supply from one-third to one-half of the total household.
The introduction of the 'Housing Supply Promotion Area' system is also being considered.
This is an area where various incentives such as deregulation of urban regulations are given to expand supply, unlike regulatory areas such as speculation overheating districts to curb demand.
Incentives such as easing various consent requirements, raising floor area ratio, and financial support will be considered in areas with reduced supply or where there is additional supply potential, such as low-rise residential areas.
The presidential campaign promises of 'cost housing for youth' and 'the first house near the station' will be promoted as integrated projects.
We supply the amount of donations and public housing sites according to the increase in floor area ratio to young people, newlyweds, and first-time buyers at 70% or less of the market price.
At this time, we provide long-term loans of 40 years or more at low interest rates to reduce the initial burden.
'My own home Ritz housing' will also be introduced, where you can freely choose whether to sell or not after living on a lease for up to 10 years.
We review that the period of residence as a rental is also recognized as the subscription subscription period.
The autonomy of local governments will also be strengthened in order to revitalize the supply of land lease housing promoted by the Seoul Metropolitan Government and others.
The Ministry of Land, Infrastructure and Transport also supports relocation to public and private rental housing for residents of housing vulnerable to disasters such as semi-basement, and provides housing renovation support for households who do not want to relocate.
Starting with the announcement of measures to reduce and improve inter-floor noise this month, the Ministry of Land, Infrastructure and Transport will release measures to reduce the reconstruction fee and comprehensive measures for youth housing support next month.
The Ministry of Land, Infrastructure and Transport plans to complete all administrative measures and legislative matters related to this measure within this year.
Minister Won said, "Now, we need to fundamentally innovate the supply policy by combining housing quality, residential environment, safety, and housing welfare from the previous quantity-oriented supply policy." We will focus our efforts to provide opportunities and hope.”
(Photo = Yonhap News)