Korea Land and Housing Corporation (LH) announced on the 24th that it will supply 873 plots (2.76 million m2) of land in 89 business districts across the country, including land for 3rd new town joint housing projects in the second half of this year.
The joint housing site, which is receiving a lot of attention from the construction industry, will be supplied in 17 business districts, with a total of 31 lots and 16,000 households.
The land included in the 3rd new city is Hanam Gyo-san 1 lot for 300 households, Namyangju Wangsuk and Wangsuk 2 4 lots for 2,100 households, and Goyang Changneung 2 2 lots for 1,200 households. They are scheduled to be supplied by block from July to October.
In August, land for public housing will be supplied in Bucheon Yeokgok, in September in Suwon Dangsu 2, Ansan Singil 2, Yongin Eonnam, and Incheon Yeongjong. In October, land for public housing will be supplied in Busan Gangdong, Sacheon Seonin, and Chungju Anrim, and in November, land for public housing will be supplied in Goesan Mini Complex Town, Guri Galmae Station District, and Daejeon Yeonchuk.
An LH official said, “Despite the difficult construction market, inquiries from mid- and large-sized construction companies are continuing for quality apartment complex sites, including the Wangsuk 2 district in Namyangju, a third-generation new city currently under supply.”
In addition to the apartment complex land, the plan is to supply 182 lots of single-family home land, 110,000㎡, 365 lots of commercial and business land, 550,000㎡, 216 lots of industrial distribution land, 950,000㎡, and 79 lots of other land, 150,000㎡ nationwide.
LH is implementing various sales strategies for unsold land to ease the financial burden of buyers and reduce investment risks. These include the land return system, which allows land buyers to cancel contracts without penalty after signing the contract, installment sales with a grace period, and interest-free installment sales.
The land supply plan and detailed supply announcement can be found on LH Subscription Plus.
LH Vice President Lee Sang-wook said, “We will contribute to revitalizing housing supply by supplying land for public housing in areas with excellent locations, such as the third new town, and do our best to fulfill LH’s public role in expanding housing supply.”
Hwang So-young, Donga.com reporter fangso@donga.com
Source: www.donga.com
