South Korean housing policy regulatory extensions

The South Korean Ministry of Land, Infrastructure and Transport has implemented several extensions regarding housing regulations and subscription accounts.

In land transaction permit areas, the deadline for the actual residence deferral measure has been extended from the end of 2026 to December 31, 2027. The updated rules expand the scope of this deferral to include lease renewal periods, potentially allowing non-homeowner buyers to delay moving in for up to 3 years and 3 months. To curb speculation, buyers must remain non-homeowners and reside in the property for at least two years once they move in. Despite these changes, market data from August indicated that only 4.5% of new applications in Seoul requested such deferrals.

Additionally, the government has extended the deadline for converting existing housing subscription accounts—including savings, deposits, and installments—into the ‘Housing Subscription Comprehensive Savings’ account. The deadline moved from September 30, 2024, to September 30, 2025. This conversion allows subscribers to retain their previous subscription periods and immediately access a preferential interest rate of 3.1% per annum.