Residents will begin moving into mandatory complexes early next year… Abolition bill in danger of collapse

National Assembly: “Let’s discuss one last time”
There is a huge difference in opinion between the ruling and opposition parties, so it is impossible to guarantee an agreement.
Criticism: “There is no government alternative in case of a misfire.”

The government’s proposed amendment at the beginning of the year to abolish the obligation to live in apartments under the sales price ceiling in the metropolitan area is in danger of being scrapped due to opposition from the opposition party. The ruling and opposition parties decided to discuss it one more time, but it is difficult to predict whether it will pass. It is expected that there will be great market confusion when complexes subject to the revised bill are applied one after another starting from early next year, and it is ultimately canceled.

There’s one more chance left…

Graphics = Reporter Shin Dong-jun

According to the National Assembly and the government on the 27th, the Land, Infrastructure and Transport Committee held a billing subcommittee on the 22nd to discuss a revision to the Housing Act that included the abolition of the actual residence requirement, but could not reach an agreement as the differences between the ruling and opposition parties could not be narrowed. However, the National Assembly’s Land, Infrastructure and Transport Committee decided to discuss it one more time at the bill subcommittee on the 29th or the 5th of next month.

if left If no agreement is reached at the bill subcommittee, Considering the general election situation next year, passage of the amendment is virtually impossible. The sale price cap system applies to 66 apartments and 44,000 households in the metropolitan area. This means that the actual residence requirement policy will remain the same.am. In this case, you must fully complete the mandatory period of actual residence (2 to 5 years) from the date of first moving in, and you cannot pay the balance by renting out the house or sell the house during this period.

If you secretly sell your house, you are subject to imprisonment for up to one year or a fine of up to 10 million won, and if you rent it out, you are subject to a fine of up to 3 million won. If it is difficult to move in, it must be resold to the Korea Land and Housing Corporation (LH) at the sale price.

Over 2,500 households move into complex with mandatory actual residence

Graphics = Reporter Shin Dong-jun

The opposition party opposes the ‘complete’ abolition of the actual residence requirement.do. Initially, apartments with a price cap system that had a low sales price were Since you bought it, it is natural that you will live there, and if you do not acknowledge this, you will end up depriving others of the opportunity to buy their own home. Reason for being deprivedIt’s from.

Instead, the Democratic Party of Korea proposed an alternative that would keep the actual residence requirement as is but include each reason for exception in the enforcement ordinance. If there are 100 reasons for exception, all 100 should be included in the enforcement ordinance, and for ambiguous reasons, a special committee within the government should be formed to decide whether to recognize the actual residence exception. It is the same idea as the current government’s Special Committee on Jeonse Fraud that determines whether a person has been a victim of a jeonse fraud.

ruling partyThe actual residency obligation remains the same, but instead, it is available at a time of your choosing, not when you first move in. We propose an alternative bill that requires only the period of actual residence to be completed.did. The purpose is to at least relieve the burden of having to move in immediately after construction is completed. The problem is that both sides oppose each other’s proposed alternatives. Regarding the opposition party, the government virtually concluded that it was impossible. The reason is that if the reasons for exceptions are increased, only the shell of the system will remain, which may in fact encourage further market chaos.

Starting with e-Pyeonhansesang Godeok Urban Bridge (formerly e-Pyeonhansesang Gangil Urban Bridge) in Gangdong-gu, Seoul in February next year, about 2,600 households subject to the actual residence requirement will move in in the first half of the year. If the law is not revised this year, these apartments will be subject to actual occupancy obligations and must be completed within 3 months of the occupancy period. However, those who cannot afford to move in may risk a fine and rent out a place. In this case, it is a clear violation of the law, but it is unclear whether it will lead to an immediate fine.

The process of imposing fines is carried out after the government directly confirms actual residence, but since the government originally announced the abolition of actual residence, it is difficult to actively impose fines. For this reason, there is likely to be severe market confusion early next year. There are many voices criticizing the government, which has only looked at the National Assembly and has not prepared any alternative until now.

Kim Dong-wook reporter [email protected]

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