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North Korea cracks down on illegal housing transactions

  • [서울=아시아뉴스통신] 레악카나 기자
  • 송고시간 2020-07-11 04:30
  • 뉴스홈 > 국제
The source said that the authorities are conducting investigations to stamp out this corruption, which they have labelled “anti-socialist practices that deserve strong legal punishment.”(Photo by=Daily NK)


[아시아뉴스통신=레악카나 기자] North Korean authorities have recently taken issue with rampant real estate transactions, calling for crackdowns and stronger controls on the buying and selling of state-owned housing, Daily NK has learned.

“On June 26, the government issued an order to the Ministry of Social Security and housing management departments of people’s committees in each city, province and county to end the practice of people buying and selling state-owned houses without proper approval,” a source from North Hamgyong Province told Daily NK on July 6.

The North Korean real estate market has recently seen the emergence of brokers who have been able to get a hold of government-issued occupancy certificates and facilitate real estate transactions, and the practice is gradually becoming more conspicuous.

According to the source, the order labeled “buying or selling state-provided houses out of self-interest” as “a shameless act that destroys socialism.” The order emphasized that most house sellers are those suffering from financial difficulties while purchases tend to be wealthy people seeking to capitalize on the opportunity to buy up good-quality houses.“The government order has made both real estate agents and people looking to buy or sell houses afraid they might get caught and made an example of,” he added.