Seoul Aims to Build 1.35M Homes to Ease Housing Crisis
The Seoul Metropolitan Government has proposed a major housing construction project to tackle the city's housing crisis. The plan aims to build 1.35 million new homes in the greater Seoul area, according to a recent announcement.
The Bank of Korea has forecast a slowdown in the rise of housing prices in Seoul. This prediction comes as the government implements stricter regulations to cool the stock market today. The central bank attributes this trend to the government's efforts to increase housing supply.
The Seoul Metropolitan Government has stepped in to address the housing shortage. It plans to construct 1.35 million new housing units in the Seoul metropolitan area. This significant initiative aims to ease the pressure on the capital region's stock market.
The government's focus on increasing housing supply, rather than relying on taxes, is expected to help stabilise the Seoul housing market. The proposed construction of 1.35 million homes signals a commitment to addressing the capital region's housing crisis.
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