Real estate regulations designed to discourage speculative transactions will be lifted for all areas except Seoul and four cities in Gyeonggi Province.

The government unveiled the decision during a meeting of related ministers held on Thursday, a day after the land ministry deliberated on regions in the country designated as “overheated speculative areas” and areas that need to be subjected to stricter lending rules.

The ministry decided to lift real estate rules for all areas except Seoul and the Gyeonggi Province cities of Gwacheon, Seongnam, Hanam and Gwangmyeong, with the change taking effect at 12 a.m. next Monday.

The ministry concluded that Seoul should continue to be considered an “overheated speculative area” and to be subject to tough lending rules given high demand for development and housing.