Oh Sehoon: "Not 'Flattening' but 'Leveling Up' in Real Estate... Looking Forward to Meeting Hong Jisun" (Comprehensive)

Visit to Hanyang Apartment Complex in Gwangjin District on the 28th

On the 28th, Seoul Mayor Oh Se-hoon stated, "When it comes to housing prices in Seoul, 'upward leveling' is a much more accurate reflection of reality than 'flattening'.

Speaking to reporters that morning at Central I-Park near Gangbyeon Station in Gwangjin District, Mayor Oh added, "I am very concerned as I have been closely watching the continuous rise in real estate prices in the outskirts of Seoul."

Seoul Mayor Oh Se-hoon visited the first Moa Housing project site, Central I-Park at Gangbyeon Station in Gwangjin District, Seoul, on the 28th, touring the resident facilities and meeting with future residents. 2026.9.28. Photo by Kang Jinhyung

On September 18, President Lee Jaemyung described the increase in home prices in outer districts such as Nowon, Dobong, and Gangbuk as a 'flattening process' during a press conference.

Mayor Oh commented, "If the government's current real estate policy continues, housing prices in the outskirts will keep rising," and added, "What is even more concerning is that unless there is a change in the policy that emphasizes real occupancy, the supply of rental housing will decrease and prices will rise, resulting in ongoing distress for Seoul citizens."

He further said, "During the tenure of former land and transport minister Kim Yoondeok, we were able to have open discussions about housing supply policies," and added, "I hope to have good discussions with the newly appointed Minister Hong Jiseon as well. When we meet soon, I will communicate Seoul's concerns honestly and without omission."

Meanwhile, on the same day, Mayor Oh visited Hanyang Yeonrip, Seoul's first 'Moa Housing' project in Gwangjin District, where he met with project stakeholders and shared updates on implementation progress and achievements.

At the event, Mayor Oh said, "The Moa Housing program can be the most effective response to the severe shortage of housing supply," and promised, "The Seoul Metropolitan Government will do its best to proceed swiftly in cooperation with residents."

First introduced by Seoul City in 2022, the Moa Housing program is a small-scale urban regeneration initiative that groups together aged low-rise residential areas—often ineligible for large redevelopment or reconstruction projects—by land parcel or block for systematic improvement. Landowners of adjacent properties, within plots ranging from 1,500 to 13,000 square meters, combine their parcels to develop multi-family housing. Moa Towns also include coordinated upgrades of infrastructure, such as roads, parking lots, and parks, to manage and maintain each project area in an integrated manner, similar to a large apartment community.

Hanyang Yeonrip is the first model case in which the Moa Housing system has resulted in successful move-ins. After being completed last month, residents began moving in this month. The project area had an aging rate of 94%, with 70% of all homes in semi-basement units. Due to illegal parking on 6-meter-wide roads, chronic lack of parking, and insufficient communal spaces, urgent improvements to the residential environment were needed. Notably, the area was 9,877 square meters—below the 10,000-square-meter threshold for general urban redevelopment—making it difficult to advance a large-scale project. Thanks to Moa Housing, the old low-rise neighborhood that could not be redeveloped through conventional means transformed from 99 residential units to 215 apartment homes, an increase of 116 households.

The positive impact of Moa Housing is now spreading throughout Seoul. Currently, 27 Moa Housing projects are underway in 10 Moa Towns in Gwangjin District alone, and resident consent is being collected in an additional 10 zones for potential Moa Town selection. Since the initiative launched, associations have been established for 168 Moa Housing sites, with 14 projects (2,200 units) having broken ground and another 27 projects (3,800 units) set to begin construction after receiving final implementation approval. Next year, move-ins are scheduled for three Moa Housing complexes including Saegwang Hanitown in Jungnang District, Bangbae 3-dong in Seocho District, and Seongdoseogwang in Mapo District.

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