The city of Seoul has designated 26.69㎢ of natural green space in Gangnam District and Seocho District as a land transaction permission zone. This measure is intended to preemptively block real estate speculation that could arise due to development expectations.
Seoul City noted on the 8th that it will reassess the natural green space in the Gangnam and Seocho District areas, which is set to expire on the 30th, as a land transaction permission zone for one year until May 30 of next year during the 7th Urban Planning Committee held on the 7th.
The target area spans 5.35 km in Gangnam District and 21.34 km in Seocho District. The reassignment area in Gangnam District is adjacent to the GuRyeong Village urban development project and includes ▲Suseo-dong (0.87㎢) ▲Gaepo-dong (1.21㎢) ▲Segok-dong (1.16㎢) ▲Yulhyeon-dong (0.53㎢) ▲Jagok-dong (0.79㎢) ▲Ilwon-dong (0.68㎢) ▲Daechi-dong (0.11㎢).
The reassigned area in Seocho District includes the Seocho Yeomgok public housing district and the Bangbae-dong Seongdui Village, as well as the Seoripul public housing district. Specific areas include ▲Yangjae-dong (1.26㎢) ▲Woomyeon-dong (2.98㎢) ▲Bangbae-dong (1.35㎢) ▲Naegok-dong (6.2㎢) ▲Shinwon-dong (2.12㎢) ▲Yeomgok-dong (1.45㎢) ▲Wonji-dong (5.06㎢) ▲Seocho-dong (0.92㎢), most of which are designated as natural green space.
As the area is designated as a land transaction permission zone, any contracts for the transfer or establishment of ownership and surface rights concerning land exceeding 100㎡ in green space and 60㎡ in residential areas must receive approval from the district office.
Accordingly, the total land transaction permission zone in Seoul remains at 164.06㎢, including the previously designated areas of Apgujeong, Yeouido, Mokdong, and Seongsu. Seoul City stated that it designated a total of 4.58㎢ in the Apgujeong, Yeouido, Mokdong apartment district and Seongsu strategic maintenance area in April to block speculation in reconstruction and redevelopment areas.