The Seoul Metropolitan Government is accelerating plans to break ground on 16,117 homes through redevelopment and rebuilding projects by the end of this year. About 15,000 of the 30,000 units targeted for construction starts in 2026 have already begun, and the city plans to resolve delays at the remaining 11 project sites through agreements with redevelopment associations, builders and district offices.
The city said on the 13th that it signed a joint cooperation agreement on meeting housing supply targets with 11 project associations, five construction companies and eight district offices, at a ceremony presided over by Mayor Oh Se-hoon. The city said it will strengthen administrative support to turn its policy goal of starting construction on 310,000 homes by 2031 into results.
The 11 sites slated to begin construction in the second half include Hannam District 3 with 5,970 units, Bangbae District 13 with 2,228 units, Sinwolgok District 1 with 2,200 units, Macheon District 4 with 1,254 units, and Noryangjin Districts 4, 5 and 7. The city will review demolition work and permit progress at each site and manage the process to keep procedures on schedule.
Under the agreement, the associations will make decisions quickly, while builders will share construction cost information, work to cut costs reasonably and cooperate on safety and quality management. The city and district offices will address causes of delay through permit processing, conflict mediation and fast-track administrative support.
Starting with 30,000 units this year, the city plans to continue on-site inspections and administrative support in 2027 and 2028 to meet its target of 310,000 construction starts by 2031 without setbacks.
"The only way to bring forward housing stability is supply delivered at a pace that citizens can see and feel for themselves," Oh said. "We will without fail reach the goal of 30,000 construction starts by Christmas, and we will show the results again at that time."
"Seoul apartment sale prices have risen for the longest stretch on record, and the jeonse (lump-sum deposit lease) and monthly rent markets are also very unstable. The city views this situation gravely," Oh said. "We will resolve issues on the ground so that supply from redevelopment projects does not stop in 2027 and 2028."
Following the signing ceremony, a special progress meeting chaired by Kim Sung-bo, vice mayor for administrative affairs, reviewed progress at the 11 sites due to break ground this year and discussed obstacles and solutions at each. The city has held 22 working-level progress meetings since announcing its housing supply promotion plan in July last year, and under the ninth popularly elected administration it elevated the progress management system to a special progress meeting chaired by the vice mayor for administrative affairs.