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Ministry of Land, Infrastructure and Transport “’Lotto’ apartment complex, must reside for up to 5 years”

The Ministry of Land, Infrastructure and Transport announced on the 27th that it announced on the 27th that the revised bill of the Enforcement Decree of the’Housing Act’ was announced on the 27th.

The obligatory period of residence for houses supplied to private housing is set as 3 years (5 years for public housing) if the sale price is less than 80% of the sale price of houses in nearby areas, and 2 years (3 years for public housing) when the sale price is over 80% lost.

There was also an exception provision for the mandatory period of residence. Residents are considered when they move to another area for overseas stay or for work or living.

If you move during the resale period or the mandatory residency period, you must resell the house to the Korea Land and Housing Corporation (LH). The resale limit for houses subject to the pre-sale price limit in the metropolitan area is 5-10 years in overheated speculation areas, and 3-8 years in other areas. The amendment also contained the content that when LH buys a house, the purchase amount is differentially applied in proportion to the period of residence and the surrounding market price. In public housing, if the pre-sale price is 80-100% of the market price and has been held for 3-4 years, 50% of the purchase cost (sale price + bank interest) is added to the price by adding 50% of the surrounding price. If the holding period is 4 to 5 years, 100% of the market price is given. In private residential lands, when the sale price is 80-100% of the market price, they are held for 3-4 years and then re-selled at 25% of the purchase cost plus 75% of the surrounding market price. Reporter Jeong Soon-gu [email protected] Going>

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