Starting Tuesday, the government will enforce tougher measures for people who buy houses in areas subject to stronger real estate market regulations with a revision to the related enforcement ordinance going into effect.
 
According to the Ministry of Land, Infrastructure and Transport, under the revision, people who purchase houses in speculation restriction zones and other government-designated zones for tougher regulations will have to submit a financing plan regardless of the price of the property.

In the financing plan, home buyers should explain in detail how they will raise the money for the purchase and whether they will use their savings, loans or stock sale.

People who buy homes in speculation restriction zones such as Seoul, Gwacheon and Sejong must submit financing plans as well as certificates of their bank balance and stock sales. 

The financing plan had only been required for the purchase of homes worth more than 300 million won, but the revision requires such a plan for all homes regardless of price.