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An Analysis & Task on the “August 31 Real Estate Measures”

  • Public Land Law Review
  • Abbr : KPLLR
  • 2005, 28(), pp.17-39
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

Kim, Su-kab 1 여갑수 1

1충북대학교

Accredited

ABSTRACT

This article studied about the "August 31 Real Estate Measures" in 2005. The "August 31 Real Estate Measures" are more comprehensive than any measures taken previously. They include means to suppress demand for speculative investment and plans for increasing housing supply, and approach housing and land as interrelated. Furthermore, the government's political will appears to be strong. The policy even includes the finance sector, since there are new regulations on secured loans against apartments. This is a positive development, though the measures are not without shortcomings since they essentially exclude elements of the "public concept" of land and focus mainly on taxation and supply. The gist of the "August 31 Real Estate Measures" are to repress speculative demand through heavy taxation and increase the housing supply through new residential developments.The "August 31 Real Estate Measures" are roughly as follows:1) Stabilization measures of the common people's housing life ; ① Stabilization support for the householders of low-income class, ② Extension of a construction plan about a public rental apartment, ③ Revitalization of individual rental apartment2) Cleanliness measures of transactions in real estate ; ① Obligation of a report for local government to transactions in real estate a real value, ② Transactions in real estate a real value register the Real Property Registration Act, ③ Construction of electronic report system, etc.3) Stabilization measures on housing & land market ; Guarantee to efficiency and equity of housing and land market the anti-speculative measures in real estate and expansion supply of housing.We should try to improve problems of the "August 31 Real Estate Measures" suggested up to now through legislative process in national assembly.

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