Suwon Extends 'Foreign Land Transaction Permit Zone' for One Year... Blocks Speculative Housing Transactions

Suwon announced that the designation period for foreign land transaction permit zones throughout the city will be extended for one year from August 26 to August 25, 2027, following a redesignation measure by the Ministry of Land, Infrastructure and Transport.

The zone covers all four districts of Suwon: Jangan, Gwonseon, Paldal, and Yeongtong. Among single-family homes, multi-family houses, multi-unit residences, townhouses, and apartments purchased by foreigners, transactions exceeding 6㎡ in residential areas and 15㎡ in commercial areas require permits.

According to the Ministry of Land, Infrastructure and Transport, foreign residential property transactions in the Seoul metropolitan area from September last year to June this year totaled 4,397 cases, down 27% compared to the same period a year earlier. Within Gyeonggi Province, Suwon ranks fourth in foreign residential transactions after Ansan, Bucheon, and Pyeongtaek.

Suwon plans to use this redesignation as an opportunity to block speculative housing transactions by foreigners and strengthen monitoring of irregular transactions.

A Suwon official stated, "We will proactively block speculative transactions and carefully monitor irregular transactions," adding, "We will do our utmost to ensure residential stability for citizens and foster a healthy real estate market."