Korea Speeds Housing Supply, Early Start for 10,000 Homes in Taereung and Gangseo

The government is accelerating public housing land supply to help stabilize the housing market. The Taereung CC site development project in Nowon-gu, Seoul, will be advanced by one year from the original plan, while housing projects totaling about 10,000 homes, including those in Gangseo, are also being placed on an early-start track. The government is also reviewing whether to expand the total supply volume. The move focuses on easing concerns over housing supply and making public land delivery feel faster in the market. If schedules for Taereung CC and Gangseo are moved forward, expectations for new housing supply in Seoul are likely to be affected. Source: mk.co.kr