South Korea's Ministry of Land, Infrastructure, Transport and Tourism announced the “Rapid Housing Supply Plan to Stabilize the Rental and Housing Exchange Market” at the Seoul government office building on the 13th. This plan is a follow-up measure to the new property market regulations announced by the government on September 7 last year to supply 1.35 million housing units in the metropolitan area by 2030. The aim is to further ensure the supply of housing while shortening the time gap between the announcement of the policy and the actual supply. The government plans to supply more than 230,000 additional housing units in the metropolitan area through this plan, including 100,000 new residential land units planned in restricted development zones. In order to speed up the development of actual input and supply of public land, the period between designation as a new housing site and the commencement of construction will be shortened from 68 months to 37 months. More than 80% of the housing supply in the metropolitan area depends on private projects, so the government is also planning to help speed up private renovation projects in order to speed up the housing supply process.

South Korea's Ministry of Land, Infrastructure, Transport and Tourism announced the “Rapid Housing Supply Plan to Stabilize the Rental and Housing Exchange Market” at the Seoul government office building on the 13th. This plan is a follow-up measure to the new property market regulations announced by the government on September 7 last year to supply 1.35 million housing units in the metropolitan area by 2030. The aim is to further ensure the supply of housing while shortening the time gap between the announcement of the policy and the actual supply. The government plans to supply more than 230,000 additional housing units in the metropolitan area through this plan, including 100,000 new residential land units planned in restricted development zones. In order to speed up the development of actual input and supply of public land, the period between designation as a new housing site and the commencement of construction will be shortened from 68 months to 37 months. More than 80% of the housing supply in the metropolitan area depends on private projects, so the government is also planning to help speed up private renovation projects in order to speed up the housing supply process.