(1) Reasons for Proposal
As part of “9.13 Housing Market Stabilization Measures,” the Amendment aims to prevent speculative demands for houses and protect actual occupants by strengthening the period for restriction on resale of housing to up to 8 years according to market price differences in the sale prices of housing in a neighboring area, regardless of the release rate of restricted development zones or housing size, for housing subject to the sales price ceiling system that are built and supplied on public housing sites in the Seoul Metropolitan Area. For housing subject to the sales price ceiling system that is built andsupplied on non-public housing sites, the Amendment strengthens the period for restricting the resale of housing to 50 percent of that of housing built and supplied on public housing sites.
(2) Major Provisions
A. Prescribe that the period for restriction on resale of housing subject to the sales price ceiling system that is built and supplied on public housing sites in the Seoul Metropolitan Area shall be 3 years if the sales price is at least 100 percent of the sale prices of housing in a neighboring area, 4 years if the sales price is at least 85 percent but less than 100 percent, 6 years if the sales price is at least 70 percent but less than 85 percent, and 8 years if the sales price is less than 70 percent, regardless of whether or not the area is a high-speculation area
B. Prescribe that for housing subject to the sales price ceiling system that is built and supplied on housing sites other than public housing sites in the Seoul Metropolitan Area, the period for restriction on resale of the housing in a high-speculation area shall be 3 years if the sales price is at least 70 percent of the sale prices of housing in a neighboring area and 4 years if the sales price is less than 70 percent; and that in a non-high-speculation area, the period shall be 1 year and 6 months if the sales price is at least 100 percent of the sale prices of housing in a neighboring area, 2 years if the sales price is at least 85 percent but less than 100 percent, 3 years if the sales price is at least 70 percent but less than 85 percent, and 4 years if the sales price is less than 70 percent
