Home » News » Real Estate Company Selling Alleys in Seoul Targeted by Moa Town Development Project – Investigation Report

Real Estate Company Selling Alleys in Seoul Targeted by Moa Town Development Project – Investigation Report

◀ Anchor ▶

We continue to report on the activities of a certain real estate company that sells alleys in small lots, claiming that the area is the target of Seoul City’s ‘Moa Town’ housing development project.

These companies bought land and sold it to individual investors at a price that quadrupled in less than a month.

How was this possible?

Reporter Kim Ji-seong reports on company gossip.

◀ Statement ▶

I took a copy of the alley map that is inside the Moa Village target site in Jungnang-gu, Seoul.

A real estate planning company bought a road for about 900,000 won per square meter last September 14 and sold it to nine people at about four times the price in less than a month.

The company even sold the roads to two of them back on the same day they bought them.

In Okcheon-dong, Seodaemun-gu and Bongcheon-dong, Gwanak-gu, it took less than a month for the number of alley owners to increase to dozens or hundreds.

However, investors do not know how much the company has increased the price.

[투자자 (음성 변조)]

“I don’t know because I haven’t looked closely at the record. I didn’t even see it. <4배를 지금 가격을 올려서 판매한 건데 혹시 당시에 이거 아셨으면 사실 건가요?> If I saw it, I wouldn’t be able to buy it.”

When buying real estate, registration of the transfer of property must be completed within 60 days, but companies focus on this so-called two-month “blind period”.

In the case of a company that previously sold an alley in Jungnang-gu, they sold the entire alley in 26 days and completed registration in 35 days.

Even if the investor provides a copy of the record, he or she cannot know the price at which the company purchased the land.

That is why companies urge investors to buy quickly through investor consultations.

[부동산업체 관계자 (음성 변조)]

“I can’t guarantee the land. This is the last thing left, so if someone comes today and says, “I will live,” then…

Public auction is one of the ways companies can buy roads at a low price, and over the past year in Seoul alone, more than 500 roads have been put up for public auction.

Companies advertise that “only real estate experts can hire them,” but in fact, most of them are places where even people can easily invest money.

[투자자 (음성 변조)]

“I thought it was land that people couldn’t buy. That’s why I bought it through that company…”

[김진유/경기대 도시교통공학과 교수]

“It is often aimed at people who have never done any land transactions but have just bought and sold houses or their own houses.”

Experts also recommend a plan for local governments to put up roads for a public auction first to secure.

However, there are concerns that the purchase of roads by local governments could fuel a speculative mood, so it is difficult to make a quick decision.

The Seoul Metropolitan Government is struggling to create measures as it announces that areas suspected of speculation will be excluded from the target site of Moa Town.

This is Ji-seong Kim from MBC News.

Video commentary: Kwan-ho Lee / Video editing: Jeong-ho Park

2024-05-08 11:32:29
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