[Suwon Ilbo = Reporter Seo Dong-young] Osan City announced on the 7th that it has newly designated 65 forest land parcels (1.39㎢) within the city as a land transaction permit zone for two years from the 4th of this month through July 3, 2022.
The designation of a land transaction permit zone is a system introduced to prevent speculative transactions of land. To transact designated land, one must obtain permission for the land transaction contract before concluding the contract.
If a contract is concluded without permission or the land is used for purposes other than intended, penalties include imprisonment of up to two years or a fine equivalent to 30% of the land price at the time of contract conclusion.
The newly designated land transaction permit zone can be checked on the city's website notice section.
Shin Yong-ho, head of the Land Information Division, said, "Through the designation of the permit zone, we will prevent damages caused by speculation in forest land and continuously monitor transaction trends to establish a sound real estate transaction order."
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