Can the goal of stabilizing housing prices through large-scale supply be achieved?

[Anchor]

The government has announced housing supply measures, including the release of greenbelt land, to stabilize housing prices and alleviate concerns about supply shortages.

Reporter Choi Kwang-ho will continue to check whether housing supply can proceed as planned and whether there are concerns about overheating in the real estate market.

[Report]

Although the rate of increase has slowed compared to the announcement of the 8.8 measures, apartment prices in Seoul have continued to rise for 32 weeks.

The government believes that this signal for housing supply will reduce market anxiety and contribute to price stabilization.

[Park Sang-woo/Minister of Land, Infrastructure and Transport: "I think it is sufficient to give the belief that 'if you wait a little, quality housing in good locations will be supplied.' If that happens, it can also calm down the excessive demand that rushes to purchase housing."]

The issue is the speed of supply.

The government has set a goal of starting sales in 2029 and the first move-ins in 2031, but considering that it typically takes about 10 years to develop greenbelt land, this is a challenging task.

The third new town is expected to start moving in at the earliest in the year after next, which raises the need for additional short-term supply measures and price stabilization policies.

[Ham Young-jin/Head of Real Estate Research Lab at Woori Bank: "In 2025 and 2026, there will be a shortage of apartment completions, and since it is not possible to supply or move in housing immediately due to the designation of residential land, ..."]

There is also a need to be cautious about overheating in the real estate market in areas where greenbelt land has been released.

Apartments in the Segok district in Gangnam, which were developed after the previous release of greenbelt land, caused fluctuations in surrounding real estate due to the so-called 'lotto sale' controversy.

[Nearby real estate agent/voice altered: "There was not a single person who did not benefit. (With the release of greenbelt land) infrastructure came in, and housing that was not worth much saw prices soar."]

The government has selected over 1,700 cases of unusual land transactions in the released greenbelt areas to prevent speculation and has stated that it will proceed with follow-up measures, including police investigations.

This is KBS News, Choi Kwang-ho.