The government has prepared a plan to purchase unsold apartments that meet certain criteria before completion at 50% of the selling price with the condition of reselling them in the future in order to resolve unsold apartments in local areas.
The government will also provide financial support to revive the construction industry, such as lending the initial land purchase costs of project financing ( PF ) at low interest rates through anchor REITs (real estate investment trusts) in which it has invested and providing special guarantees for PFs of small and medium-sized construction companies. The Ministry of Land, Infrastructure and Transport announced on the 19th that a 2.7 trillion won construction industry revitalization plan containing these contents was reflected in the second supplementary budget bill this year.
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The government has prepared a plan to purchase unsold apartments that meet certain criteria before completion at 50% of the selling price with the condition of reselling them in the future in order to resolve unsold apartments in local areas.
The government will also provide financial support to revive the construction industry, such as lending the initial land purchase costs of project financing ( PF ) at low interest rates through anchor REITs (real estate investment trusts) in which it has invested and providing special guarantees for PFs of small and medium-sized construction companies. The Ministry of Land, Infrastructure and Transport announced on the 19th that a 2.7 trillion won construction industry revitalization plan containing these contents was reflected in the second supplementary budget bill this year.
▶︎ Read the Full Article