South Korea’s Ministry of Land and Marine Joint Planning and the Ministry of Finance, Finance Committee and other departments jointly issued the “Residential Exchange program of normalization and residential stability and support”, according to the program, South Korea will “temporarily” to relax the existing real estate policies to stabilize market to meet the needs of people living purposes. For the South Korean government announced the program, Korea in general that the real estate policy to relax, restore market will play a dynamic role, but it will not make housing prices rebound.

At this time the South Korean government policy to relax the real estate background is Korean real estate market volume continued to shrink, to some hope that the move into the new home of the great distress of ordinary people. According to South Korean Ministry of Land and Ocean data published the day, South Korean real estate market prices stabilize, as the government put on increasing the degree of public housing, this stable trend will continue. Taking into account the demand for South Korean real estate market and the overall situation of economic recovery, within a short time a rapid decline of housing prices is unlikely. According to statistics, the capital of Seoul and the surrounding areas of real estate transactions increased from June 2009 to 2.2 million in June 2010 fell to 0.8 million units in July 2010 to maintain approximately 0.8 million units, giving those who do not sell existing housing people can not buy a new home is a big inconvenience. Minister of Land and Marine Zhengzhong Huan said that day, real estate transactions were atrophy of the actual demand, but also led to the construction industry and further atrophy, which was drawn up the proposal, but the inhibition of speculation, to maintain stable policy Fangjia no change in tone.

Introduced the program provides for the day, non-homeowners and has only 1 set of domestic South Korean Government to establish a household in the “real estate speculation Di Qu,” Yi Wai, Goumaijiage 900 million won (1 U.S. dollar approximately 1,196 won) the following residential O’clock, Ge financial institutions to relax their own, under the circumstances, “the total debt repayment rate”, the policy will be “temporarily” to the March 2011 implementation. In addition, the program also provides that, with only 1 set of families in the purchase of new residential housing will be two years Zhineibixu Yuanyou residential purchase, Fouze to an additional 1 percent of the loan rate. The so-called “total debt repayment rate” means the repayment of all loans in the amount of revenue share. In 2006 the Korean government to stabilize the real estate market, housing prices rose too fast and the introduction of “total debt repayment rate.” Currently, the Korean government designated “area of real estate speculation,” to buy residential, the “total debt repayment rate” may not exceed 40%; in the speculative purchase of residential areas outside of the time, Seoul, “The total debt repayment rate” of 50% Gyeonggi Province is 60%. The South Korean government’s plan only to buy houses in the area of non-speculative and non-room house with only one set of the family, so you can see the aim is to restore the vitality of the market, rather than hope that the real estate market prices, and this a policy execution time is limited.

South Korea’s Financial Committee of the view that the introduction of the program aims to support the ordinary people to buy homes, and limit the demand for the purpose of speculation, so a lot of money pour into the real estate market unlikely to stabilize real estate prices will be sustained.

South Korea’s Yonhap news agency that the government has introduced the program aims to achieve a soft landing for the real estate market, real estate prices plummeted to eliminate people’s anxiety, but not support the price rise, the trend of price stability will not change.

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