Starting Monday, the government will implement the land transaction permit system across all of Seoul and 12 areas of Gyeonggi Province as an effort to stabilize the housing market. 

The measure, which the Ministry of Land, Infrastructure and Transport announced last Wednesday, will remain in effect until the end of next year. 

The regulated zones cover all of Seoul and 12 Gyeonggi areas, including Gwacheon, Gwangmyeong, Seongnam, Suwon, Uiwang and Hanam.

Seoul's districts of Gangnam, Seocho, Songpa and Yongsan were already subject to the regulations.

Under the system, not only apartments but also multiunit housing require approval from the heads of municipalities before any transactions can take place, and buyers must reside in their property for two years after the acquisition date.

These areas were also classified as speculative zones subject to tougher regulations and lending rules last Thursday.