At one point, access to the Ministry of Land, Infrastructure and Transport website was unavailable as users flocked to check the details of the "dwellings market stabilization measures" announced on the 15th.
As of 2:20 p.m. that day, access was possible only after a notice saying "waiting to connect to the service" appeared upon connection. The ministry said, "Right after the measures were announced, more users than expected rushed in, causing a momentary server overload."
Access appears to be available now and the press release can be viewed, but there are still instances of temporary delays when connecting.
According to the measures announced that day, all 25 districts in Seoul and 12 selected cities and districts including Gwacheon, Seongnam, Gwangmyeong, Suwon, and Yongin in Gyeonggi Province were newly designated as areas subject to adjustment, speculative overheating districts, and land transaction permit zones. When designated as regulated areas, the loan-to-value (LTV) ratio for people without dwellings is reduced from the existing 70% to 40%, and the LTV cap for existing dwelling owners is further reduced, effectively restricting loans.
In addition, the mortgage limit is applied differentially depending on the dwelling price range. Dwellings priced at 1.5 billion won or less can be financed up to 600 million won as before, but dwellings priced at 1.5 billion–2.5 billion won are limited to 400 million won, and those over 2.5 billion won are limited to 200 million won.