Suwon Extends 'Foreign Land Transaction Permit Zone' for One Year… Blocking Speculative Housing Transactions

Suwon announced that the designation period for foreign land transaction permit zones across the entire city has been extended for one year, from August 26 to August 25, 2027, following a re-designation measure by the Ministry of Land, Infrastructure and Transport.

The target area covers all of Suwon, including Jangan, Gwonseon, Paldal, and Yeongtong districts. Foreign purchases of detached houses, multi-family homes, multi-unit residences, row houses, and apartments require permits when the land area exceeds 6㎡ in residential zones or 15㎡ in commercial zones.

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

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

A Suwon official stated, "We will preemptively block speculative transactions and closely monitor irregular trades," adding, "We will do our best to ensure residential stability for citizens and create a healthy real estate market."