Sasang District in Busan and Jung District in Daejeon were newly designated as unsold-home management areas by the Korea Housing & Urban Guarantee Corporation (HUG).
HUG said on the 5th that with these areas newly selected as unsold-home management areas for June, a total of four locations are now designated. Icheon in Gyeonggi Province has been designated since February, and Jung District in Incheon since March.
Among cities, counties, and districts with 1,000 or more unsold units and with unsold units accounting for 2% or more of multifamily housing inventory, an area is designated as an unsold-home management area if it meets at least one of three criteria: ▲ increase in unsold units ▲ slow resolution of unsold units ▲ concern over unsold units. Once selected as an unsold-home management area, a prior review is required when issuing HUG's project financing (PF) guarantees for sales.
As of April, unsold dwellings in the June unsold-home management areas total 6,413 units. This accounts for about 9.8% of the nationwide total of 65,179 unsold dwellings.