The Seoul city government said on the 17th it will extend for 1 year and 3 months the land transaction permission zones (LTPZ) across all apartment-use areas in the three southern districts of Seoul (Gangnam, Seocho, Songpa) and Yongsan District.
Seoul convened the 15th Urban Planning Committee and decided to reassign the LTPZ for apartment land within the three southern districts and Yongsan District from Oct. 1 to Dec. 31, 2026. This extension is a follow-up to the expanded designation in Mar., when the three southern districts and the Yongsan area were designated for six months.
Seoul determined that an extension was unavoidable to protect end users' residential stability, while continuing to observe the real estate market even after designating the LTPZ. However, Mapo and Seongdong districts, which had drawn attention over whether they would be additionally designated at this Urban Planning Committee meeting, were not designated as LTPZ.
This review also newly designated eight sites (a total of 446,779㎡) selected as candidates for speedy integrated-planning dwellings redevelopment as LTPZ. The designation period runs from the 30th of this month to Aug. 30, 2026. The aim is to block speculative demand and improve the efficiency of managing permission zones.
Of the eight newly designated sites, seven are speedy integrated-planning candidate sites: ▲ around 133-1 Dorim-dong, Yeongdeungpo District ▲ around 159 Mia-dong, Gangbuk District ▲ around 638 Banghak-dong, Dobong District ▲ around 1-1351 Yongsan-dong 2-ga, Yongsan District ▲ around 214 Sangdo-dong, Dongjak District ▲ around 419-1 Sadang-dong, Dongjak District ▲ around 331-29 Ahyeon-dong, Mapo District. The public redevelopment zone is one site around 2-92 Garibong-dong, Guro District.
Within the LTPZ, land transactions exceeding 6㎡ in residential areas and 15㎡ in commercial areas require approval from the head of the relevant district office. If a transaction contract is concluded without approval, violators face up to two years in prison or a fine of up to 30% of the land price.
Residential land must be used only for actual residence for two years after receiving approval. Sales and leases are prohibited during this period. If the land is unused or left idle, an enforcement penalty of 10% of the acquisition price is imposed; 7% for leasing to others; and 5% for unauthorized changes of use.
Seoul signaled its intention to proactively block speculative elements in the real estate market through the LTPZ reassignment and new designations. It also plans to continue monitoring market conditions and prepare responses according to changes.
Choi Jin-seok, head of Seoul's dwellings bureau, said, "In a situation where destabilizing factors in the real estate market have not been resolved, this reassignment is an unavoidable decision as a minimal step for market stabilization," adding, "We will continue to monitor various market indicators, including prices and transaction volume, and do our best to foster a sound real estate market environment."