Two Caught Trading Apartment for 80 Million Won Premium During Resale Restriction Period

A buyer and a seller who traded an apartment subject to resale restrictions with a premium of 80 million won have been caught.

The Gyeonggi Ilsan Dongbu Police Station announced today (August 10) that it has forwarded suspects A and B to prosecutors without detention on charges of violating the Housing Act.

The apartment located in Paju, for which suspect A held the pre-sale rights, is subject to the price ceiling on housing, prohibiting the sale of pre-sale rights for three years following the contract signing.

However, in 2021 before the resale restriction expired, suspect A sold the apartment to suspect B for 540 million won, which included the original pre-sale price of 460 million won plus an 80 million won premium.

The police launched an investigation after receiving a request from the Gyeonggi Provincial Government's Land Information Division, which suspected illegal sales during the resale restriction period.

A police official stated, "The police will continue to enforce strict crackdowns to eradicate illegal real estate activities."

(Photo: Provided by Yonhap News TV, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.