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Seoul Mayor Oh Se-hoon speaks at a press briefing on Friday at City Hall about Seoul's housing supply expansion plan, following the government's announcement released the day before. (Newsis) |
Seoul Mayor Oh Se-hoon on Friday emphasized that easing greenbelt development restrictions is crucial to addressing the city's housing demands, particularly for newlyweds, as part of broader efforts to tackle South Korea's pressing low birth rate.
Oh acknowledged Seoul's historical reluctance to lift greenbelt restrictions but argued that current challenges, including population decline due to low birth rates and the urgent housing needs of young couples, make this change necessary.
"(By implementing this initiative,) I want to convey a strong commitment to ensuring that, somehow, we will resolve the housing issues for newlyweds and young people once they get married," Oh said during a press briefing at City Hall.
"If we use this opportunity to lift the greenbelt restrictions, but limit the changes to damaged areas and focus on providing housing for future generations, it should be acceptable," Oh added.
Greenbelt easing will be implemented with careful consideration, Oh said.
Oh specified that "the restrictions will only be lifted in areas with lower ecological value, such as damaged lands or those with minimal environmental significance."
This approach is designed to preserve areas of high ecological value while still addressing housing needs. The city will incorporate various measures, including long-term rental housing options specifically for newlyweds, to ensure that the benefits of the greenbelt easing are effectively realized, according to Seoul city.
To prevent real estate speculation, the entire greenbelt area in Seoul will be designated as a land transaction permit zone. This designation is intended to monitor and control speculative demand. Should issues arise, additional measures will be taken, potentially expanding restrictions to neighboring urban areas.
In addition to easing greenbelt restrictions, Seoul plans to collaborate with the government on other measures to accelerate the housing supply, Oh said. This includes discussions on shortening approval times for new developments.
Oh reiterated that stabilizing Seoul's real estate market and lowering housing prices are steadfast goals for the city. He expressed hope that these initiatives would contribute to a more stable housing market and alleviate some of the current uncertainties.
Seoul's policy shift is part of a broader government strategy to address the housing shortage in Seoul and surrounding areas.
In the latest housing policy announced Thursday, the Ministry of Land, Infrastructure and Transport and related agencies released a set of plans to supply over 427,000 housing units over the next six years in Seoul and nearby Gyeonggi regions.
The greenbelt easing is expected to contribute around 80,000 units to this total. This marks the first significant easing of greenbelt restrictions since the early 2010s.
Greenbelt areas, which cover approximately 24.6 percent of Seoul’s total area, were established in 1971 to prevent uncontrolled urban expansion and preserve the environment.
