The Seoul Metropolitan Government has decided to lift its land transaction permit zone designation for almost 300 apartments near the Seoul International District.

The Seoul government said it convened a meeting of its city planning committee on Wednesday and approved a motion to lift the designation. 

The change is set to go into effect Thursday. 

In a land transaction permit zone, the district mayor’s permission is required for any trade in houses, stores or land beyond a certain size. 

Such zones cannot be bought for any purpose except residential space. 

Currently, such zones in the capital cover a combined area of 65-point-25 square kilometers. 

They include Apgujeong-dong and Yeouido-dong as well as parts of the Seoul International District, which consists of Jamsil-dong in Songpa District as well as Samseong-dong, Daechi-dong and Cheongdam-dong in Gangnam District. 

Of the 305 apartments located near the Seoul International District, 291 are in land transaction permit zones that will have this designation lifted.