Mok-dong new town area in Yangcheon-gu, Seoul.  (Maekyung DB)

Reconstruction apartment prices fluctuate… Easing safety diagnosis standards likely to be delayed until next year

Mok-dong new town area in Yangcheon-gu, Seoul. (Maekyung DB)

An internal document of the Presidential Takeover Committee (state project implementation plan) was released that the government will postpone the revision of the reconstruction safety diagnosis standard, which has been considered a stumbling block to the reconstruction promotion, until next year.

This document, known as an interim report of the transition committee prepared in April, is 1,170 pages of A4 paper and contains the details of 110 national tasks and detailed implementation plans disclosed by the Yun Seok-yeol government.

According to the document, the government has decided to revise the ‘safety diagnosis standard for housing reconstruction decision’ in the first half of next year. After the presidential election, as apartment prices for reconstruction showed signs of rising again, the time to ease the safety inspection regulations, the first gateway to the reconstruction project, was postponed until next year.

In his presidential campaign promises, President Yoon Seok-yeol lowered the proportion of structural safety, which is currently the biggest obstacle to passing the safety examination, from 50% to 30%, while the proportion of residential environment increased from 15% to 30%, and the age of construction finishing and equipment was 25% → A plan has been proposed to increase each to 30%. If the proportion of the residential environment increases, it will be easier to pass the safety examination on the grounds of insufficient parking lot.

Regarding this, the Ministry of Land, Infrastructure and Transport, which is the responsible ministry, said, “I understand that the document is not the final version prepared by the transition committee. It has no meaning.”

On the other hand, the document also contains the contents of a decision to submit a bill to amend or enact the law to the National Assembly within the second half of this year for matters requiring revision of the law, such as the recovery of excess profits from reconstruction or the submission of the ‘First New City Special Act (Special Act on Regeneration of Old New Towns)’.

For the 1st new town development project, the ‘special law’ was enacted in consideration of the characteristics of the planned city to provide a basis for additional supply of more than 100,000 high-quality households. , and plans to create a relocation-only complex using the 3rd new town, etc.

In the case of easing the recovery of excess profits from reconstruction, it is a factor that can stimulate the reconstruction market like the safety diagnosis, but it seems that it is not possible to delay the amendment of the law simply because the levy of some reconstruction complexes, such as Banpo Hyundai, Seocho-gu, is currently delayed. However, it was stated that the target for the relief of the burden was ‘focused on end users and long-term owners.’

In addition, in the document, the housing land necessary for the supply plan for 2.5 million housing units, which is President Yoon’s pledge, is secured, and ‘Youth cost housing’ for young end-users is prepared in advance and supplied for the first time next year. (HUG)’s high sale price management system also contains the contents of the revision.

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