Gyeonggi Province has designated an area of 30,000㎡ (approximately 9,075 pyeong) in Yatap-dong, Bundang-gu, Seongnam City, as a land transaction permission zone from the 23rd until December 22, 2026.
Gyeonggi Province noted on the 18th, "To ensure the smooth progress of supply projects and prevent real estate speculation, the Gyeonggi Province Urban Planning Committee held a review on the 6th, decided to designate a land transaction permission zone, and announced this on the Gyeonggi Province website."
To conduct a transaction for land exceeding the standard area of 60㎡ for residential areas and 200㎡ for green areas in this region, permission must be obtained from the mayor of Seongnam City before concluding a sales contract. If the transaction is below the standard area, permission is not required.
If a transaction exceeding the standard area is contracted without obtaining permission or by improper means, a penalty of imprisonment for up to two years or a fine of up to 20 million won may be imposed. The land must be used for this purpose for a certain period after receiving permission, and a compliance penalty of 10% of the acquisition price will be imposed annually for violations.
A Gyeonggi Province official said, "We designated this area due to concerns over expectations of rising land prices and speculative transactions stemming from project implementation," adding, "We will respond closely to market conditions to stabilize the real estate market."
Currently, the land transaction permission zone in Gyeonggi Province covers 453.416㎢, accounting for 4.4% of the province's total area. This includes the Yongin National High-tech Industrial Complex and its vicinity (129.48㎢), two regions in Namyangju according to the metropolitan area housing supply expansion plan (45.9㎢), and seven cities including Uiwang among the new public housing sites (34.21㎢), and five cities planned for the first-phase new town (17.28㎢).