Seoul mayor pledges accelerated construction of 310,000 new homes
Seoul Mayor Oh Se-hoon announced that the city will continue its housing supply program, with 15,000 units already under construction and a target of 310,000 new homes by 2031.
In a parliamentary audit, Seoul Mayor Oh Se-hoon reaffirmed the city’s commitment to its housing supply strategy, noting that construction has already started on 15,000 units this year. The administration’s goal is to launch 310,000 housing units by 2031, primarily via redevelopment and reconstruction initiatives, in response to recent supply gaps that have pushed prices sharply upward. Oh stressed that a steady and ample supply is essential for easing housing concerns, and the city will accelerate projects through integrated planning.
He pledged to reduce on-site obstacles and eliminate unfair rules to ensure continuous delivery of homes. Additionally, the mayor vowed to tackle rental market shortages by expanding the foundation for private-sector supply.
Why it matters
The plan targets Seoul's severe housing shortage and rising prices, affecting millions of residents.
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