[Anchor]

The government is poised to announce new real estate measures, including additional housing supply plans. While the government has vowed to speed up the supply process, the third-generation new towns first announced in 2018 still have a long way to go before residents can actually move in.

Reporter Baegun looks into the situation from the field.

[Reporter]

The Gyosan district in Hanam, Gyeonggi Province, designated as a third-generation new town in late 2018.

Heavy machinery stands in various areas, and infrastructure clearance work is underway.

This is where the first main subscription for the Gyosan district took place, with about 1,100 households scheduled to move in, but the construction pace remains slow.

The housing construction progress rate here still sits at 0%.

At the time of the pre-subscription, the scheduled move-in date was guided as March of next year, but the timeline has now been delayed by more than two years.

[Choi Nak-hyung / Real Estate Agent in Hanam, Gyeonggi Province: Among prospective movers, some are worried that they might miss the chance to buy their own homes while trusting and waiting for the government, and I have seen several people who ended up purchasing homes elsewhere.]

Among other third-generation new towns, none have seen move-ins yet, with the very first move-in for a third-generation new town scheduled to take place in Gyeyang, Incheon, by the end of this year.

In the field, land compensation procedures are cited as the primary cause of the delays.

It took 33 months from the start of compensation to the commencement of development construction in Hanam Gyosan, 30 months in Incheon Gyeyang, and 22 months in Namyangju Wangsuk District 2, averaging 23 months across six districts.

[Jang Jun-yong / Chairman of the Gyosan Resettlement Committee: Because it was a development restriction zone, the land prices are low despite being adjacent to Songpa. As a result, there is a wide gap between the prices desired by residents and the appraisal prices offered by the LH (Korea Land and Housing Corporation).]

In some cases, even after land compensation is completed, actual relocation is delayed, which pushes back demolition and construction together.

Experts point out the need to consider ways to conduct compensation procedures and relocation preparations simultaneously.

[Park Won-gab / Senior Real Estate Specialist at KB Kookmin Bank: Currently, relocation takes place only after land compensation is finished. We need to create relocation complexes or facilities in advance so that relocation can happen simultaneously with compensation...]

Starting this December, enforcement fines of up to 10 million won can be imposed on those who refuse to move out and fail to hand over their land or buildings even after compensation is finalized.

However, a measure to provide incentive grants to residents who cooperate with the compensation process has failed to pass the National Assembly.

Attention is now focused on whether the upcoming housing supply measures will include concrete plans to shorten project periods.

(Video reporting: Kim Hak-mo, Video editing: Shin Seeun, Design: Park Hye-jin)