Seoul Designates Roads in Moa Town Candidate Sites as Land Transaction Permit Zones

The Seoul Metropolitan Government announced that it held its 10th Urban Planning Committee meeting on June 17 and newly designated roads in areas selected as Moa Town candidates as land transaction permit zones.

The new designations include three locations: 77 Yangjae-dong, Seocho-gu; 76-1 Sinchang-dong, Yongsan-gu; and 84-24 Noryangjin-dong, Dongjak-gu, as well as the sites to be finalized from among the six areas to be submitted to the Moa Town expert advisory meeting on June 22.

The city plans to simultaneously pursue candidate selection and the designation of land transaction permit zones to fundamentally block the influx of speculative demand before and after the announcement of the candidates.

This decision follows concerns over speculative activities, such as the "private road stake trading," where individuals split and trade ownership stakes in alleys within the selected Moa Town areas.

Roads within the selected areas will be designated as land transaction permit zones for five years, from June 30, 2026, to June 29, 2031.

The designated areas can be confirmed through the Seoul City Bulletin on June 25.

The city also adjusted the boundaries of land transaction permit zones for one rapid integrated planning housing redevelopment project to reflect changes in the project area (standardization of district boundaries) for smoother implementation.

The permit criteria for land area and the designation period remain the same as before.

Choi Jin-seok, head of the Seoul Metropolitan Government's Housing Policy Office, stated, "By simultaneously pursuing the Moa Town selection process and the designation of permit zones, we will block speculative factors and manage the projects to ensure they serve actual residents."

(Photo courtesy of Seoul Metropolitan Government, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.