Two men prosecuted for illegal apartment pre-sale trade despite resale ban

Two men in their 60s face prosecution for illegally trading an apartment pre-sale right, circumventing a resale ban to pocket an 80 million won premium. The transaction involved an apartment in Paju's Unjeong New Town, which is currently under a three-year resale restriction. This ban, enacted in December 2021, applies to homes subject to the housing price cap system.

Authorities revealed that one of the men, identified as A, purchased the pre-sale right from another individual, B, for a total of 540 million won, including the 80 million won premium. The Gyeonggi Province Land Policy Division detected the illegal transaction and referred the case to the police for investigation.

In response to the incident, a police official stated, "We will continue to pursue stringent crackdowns to eradicate illegal real estate activities." This case highlights ongoing efforts to curb illicit practices in the property market, particularly concerning pre-sale rights in areas with price regulations.

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We will continue to pursue stringent crackdowns to eradicate illegal real estate activities.