Home Business ‘Up to 3 years for private and 5 years for public’…Set the period of duty to live for housing with a limited sale price in the metropolitan area l KBS WORLD Radio

‘Up to 3 years for private and 5 years for public’…Set the period of duty to live for housing with a limited sale price in the metropolitan area l KBS WORLD Radio

by news dir

Photo : YONHAP News

The mandatory period of residence for houses subject to the pre-sale price limit in the metropolitan area is 2 to 3 years for private housing and 3 to 5 years for public housing.

The Ministry of Land, Infrastructure and Transport announced on the 27th that the revision of the enforcement decree of the’Housing Act’ was announced in accordance with the revised Housing Act so that the mandatory residency period can be set within five years.

There is also a rule that is considered resident if there is an unavoidable reason, such as relocating to another area for the purpose of staying abroad, working, living, etc. during the mandatory residency period.

In addition, if the residence is re-sold to the Korea Land and Housing Corporation (LH) due to livelihood reasons within the resale period, the purchase amount is differentially applied in proportion to the difference between the sale price and the surrounding market price, and the retention period.

In addition, the restriction period for resale of specially supplied housing for employees of relocation agencies in Sejong City will be reinforced from 5 to 8 years for overheated districts and from 3 to 5 years for areas other than overheated speculation districts. Also included in the amendment.

In addition, a new provision of grounds for voting rights to be exercised online for a certain period of time when holding a general housing union meeting to prevent the COVID-19 outbreak was also created.

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