Menu Content

Economy

New Regulation on Housing Supply to Take Effect Next Week

Write: 2018-12-07 09:11:42Update: 2018-12-07 10:11:10

New Regulation on Housing Supply to Take Effect Next Week

Photo : YONHAP News

A revised law on housing supply will go into effect on Tuesday.

The Ministry of Land, Infrastructure and Transport said on Friday that the revision is a follow up on a set of measures announced on September 13th to stabilize the soaring housing market. 

Under the revision, recently married couples who had previously owned houses will not be eligible for the government's special supply of low-cost housing for newlyweds. 

In addition, the government will ensure that more than 75 percent of homes will be supplied to people who own no homes when using the government lottery system.

Editor's Pick