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Another anti-speculation step

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Success of price cap relies on stabilizing bubble-prone areas

The government announced Monday that it would put a price cap on new apartments supplied by private builders. The toughened anti-speculation policy will focus on most popular residential areas, including the three southern Seoul districts of Gangnam, Seocho and Songpa called the "Gangnam Trio," which have taken the lead in pushing up housing prices.

According to the Ministry of Land, Infrastructure and Transport, private builders will not be able to determine housing supply prices on their own in 31 "hottest" residential........

© The Korea Times