The government plans to lift real estate regulations designed to discourage speculative transactions for all areas except four districts in Seoul in a bid to prevent a “hard landing” in the real estate market.

According to the presidential office and government ministries on Monday, the Ministry of Land, Infrastructure and Transport is expected to soon make an announcement on lifting such regulations for all areas except the districts of Gangnam, Seocho, Songpa and Yongsan in Seoul.

The lifting of such regulations will lower rates for the comprehensive real estate holding tax and ease lending rules to stave off a nosedive in real estate prices.

Currently, the entire city of Seoul and the Gyeonggi Province cities of Gwacheon, Seongnam, Hanam and Gwangmyeong remain bound by the rules.

A further 15 districts in Seoul are currently considered “overheated speculative areas” and thus subject to tough lending rules given high demand for development and housing.