SEOUL: South Korea plans fresh curbs on housing transactions in Seoul as Acting President Choi Sang-mok (pic) vowed to take "all available steps” to prevent a frenzy in the property market that could potentially complicate efforts by policymakers to shore up the economy.
The government said on Wednesday (March 19) it will designate the districts of Gangnam, Seocho, Songpa and Yongsan in the capital as areas where apartment buyers must seek permits. The Ministry of Land, Infrastructure and Transport said in a statement the number of areas may increase if the housing market overheats, and regulations on housing loans will also be tightened.
