Seoul’s Seongbuk-gu, encompassing 19 parcels of land in Jeongneung-dong 199-1 area, has been designated as a land transaction permit zone. The designation period is from April 15, 2025, to April 14, 2030, lasting for five years.
This move aims to prevent speculative land activities in advance in the designated redevelopment project area and its vicinity. The designation particularly focuses on lands whose primary usage is roads.
Upon designation as a land transaction permit zone, any transfers or establishment of ownership or land rights for lands exceeding a certain area within the zone must obtain the district office’s prior approval before contract conclusion. Residential areas over 6 square meters and commercial areas over 15 square meters fall under this requirement.
If a contract is concluded without permission or if permission is obtained fraudulently, offenders can face up to two years of imprisonment or a fine equivalent to a maximum of 30% of the individual publicly announced land price at the time of the contract.
For inquiries and permit applications, contact the Real Estate Management Team of the Real Estate Information Office at Seongbuk-gu Office.
