“Intended to Resolve Non-Metropolitan Unsold Housing… Response from Financial Services Commission Under Review”,
Kwon Seong-dong, the floor leader of the People Power Party, and Kim Beom-seok, the first vice minister of Strategy and Finance, along with other participants, are taking a commemorative photo at the Economic Sector People’s Livelihood Measures Inspection Party-Government Consultation Meeting held at the National Assembly on the 4th. February 4, 2025, by Hong Yun-gi,
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, ‘The government has decided to actively consider temporarily easing the Debt Service Ratio (DSR) regulation to address the severe unsold housing issue in non-metropolitan areas. This response from the government is in line with the ruling party’s request to address the increasingly polarized real estate market between metropolitan and non-metropolitan areas.’,
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, ‘Kim Sang-hoon, the policy chief of the People Power Party, mentioned after the ‘Economic Sector People’s Livelihood Measures Inspection Party-Government Consultation Meeting’ at the National Assembly on the 4th that, “We requested the Financial Services Commission and the Ministry of Land, Infrastructure and Transport to temporarily ease DSR loan regulations to resolve the unsold completed housing in non-metropolitan areas,” and received a response that the Financial Services Commission would review it thoroughly.’,
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, ‘ MobileAdNew center ‘, ‘The DSR is a loan regulation that ensures annual loan principal and interest repayments do not exceed 40% of annual income. Easing this regulation would make it easier for local homebuyers to secure loans.’,
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, ‘Kim emphasized, “If the current situation persists, regional polarization will worsen,” and added, “The party and government have decided to actively cooperate to resolve the unsold housing in non-metropolitan areas.”‘,
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, ‘Specific support measures include maintaining the special tax exemptions for one household, one home when purchasing unsold homes after completion, and a 50% reduction in acquisition taxes for businesses. These are part of the tailored support measures for disposing of unsold homes, which will be implemented from this year.’,
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, ‘Additionally, amendments to related laws such as the Private Rental Housing Act, the Comprehensive Real Estate Tax Act, and the Local Tax Act, aimed at supporting the resolution of unsold properties, will be swiftly pursued. Plans are also underway to launch a Real Estate Investment Trust (CR-REIT) specializing in purchasing non-metropolitan unsold properties in the first half of the year.’,
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, ‘Regarding this, Kwon Seong-dong, the floor leader, highlighted in the opening remarks of the party-government consultation meeting that “To solve the local unsold housing problem, a prescription that goes beyond a breakthrough is needed.”‘,
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