[Suwon Ilbo=Reporter Jung Jun-sung] Osan City announced on the 29th that the entire city area (42.71㎢) has been redesignated as a land transaction permit zone for one year from May 1 to April 30, 2022.
Last year's designation of the permit zone showed market stabilization effects such as a decrease in housing transaction volume. However, with rising prices continuing and speculation possibilities remaining, the area has been redesignated as a permit zone.
Permission targets are limited to acquisition transactions of housing by foreigners and domestic corporations and organizations. Land acquisition exceeding the standard area of 18㎡ in residential zones and 20㎡ in commercial zones by land-use zone requires permission.
Violations result in imprisonment of up to two years or a fine of up to 30% of the individual public notice land price at the time of contract execution.
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