The government on Tuesday unveiled a plan to overhaul the nation’s price ceiling system for the housing market.

Under the plan, key costs that arise in the process of pursuing redevelopment projects will be reflected in housing prices. Such costs would include moving expenses for residents required to move out due to redevelopment efforts.

Currently, the price ceiling on houses is calculated by adding up the land value, construction costs and a reasonable profit margin for builders.

An official from the land ministry said that the latest revisions will raise the cap on housing prices by up to four percent.

The government’s plan will also enable construction fees to reflect the rising prices of construction materials in high demand. The land ministry will incorporate the prices of window glass, plywood boards and aluminum molds in basic construction fees amid increasing demand for those materials.