Residence Requirement Deferment in Land Transaction Permit Areas to Include Homes with Tenants Owned by Single-Homeowners from the 29th [Real Estate AtoZ]

Only Non-Homeowners Eligible to Purchase

Move-In Can Be Deferred for Up to Two Years

Must Occupy by May 11, 2028

Starting from the 29th, when purchasing a home with tenants in a designated land transaction permission area, non-homeowner buyers will be granted a deferment of the actual residence requirement for up to two years, even if the seller owns only one home.

The Ministry of Land, Infrastructure and Transport announced on the 23rd that it will promulgate and enforce a revision to the Enforcement Decree of the Real Estate Transaction Reporting Act on the 29th, which expands the scope of the residence deferment to all homes with tenants. The previous measure, announced on February 12, applied only to certain multi-homeowner listings; however, with this amendment, listings from one-homeowners are also included, regardless of the number of homes owned by the seller.

Gwanggyo Apartment Complex. The government will expand the exemption for actual residence, which applies when a non-homeowner lives in a rented house within a land transaction permission zone, to include properties put up for sale by single-homeowners starting from the 29th. Photo by Jo Yongjun

The eligibility for buyers is limited to non-homeowners. From the 12th of this month, which is the announcement date of the measure, all household members must continuously maintain non-homeowner status. In line with the principle of prohibiting "gap investment," the requirement to limit buyers to non-homeowners remains unchanged from the standards set in February.

The period during which the buyer can defer moving in and postpone actual residence is until the initial expiration date of the existing lease contract (including both jeonse and monthly rent) that was in place as of the 12th. However, the deferment period is recognized for a maximum of two years from the announcement date. Therefore, buyers must move into the purchased home by no later than May 11, 2028.

To be eligible for the residence deferment, the parties to the transaction must apply for a land transaction permit with the relevant authority by December 31. After receiving the permit, the buyer must complete the final payment and register the acquisition of the home (title registration) within four months for the deferment to take effect.

The expanded residence deferment applies to land transaction permission areas in all 25 districts of Seoul and 12 locations in Gyeonggi Province, including Gwacheon, Gwangmyeong, Seongnam (Bundang, Sujeong, Jungwon Districts), Suwon (Yeongtong, Jangan, Paldal Districts), Anyang (Dongan District), Yongin (Suji District), Uiwang, and Hanam.

Kim Yoonduk, Minister of Land, Infrastructure and Transport, stated that this measure "aims to address the fairness issue that arose when the residence deferment applied only to certain multi-homeowners in February," and added, "To prevent gap investment, we will maintain the requirement for non-homeowner buyers and the maximum two-year deferment to ensure policy consistency."

This content was produced with the assistance of AI translation services.