Tenant-Occupied Home Purchases by Nonowners Get Residency Deferral Through Year-End

South Korea’s Ministry of Land, Infrastructure and Transport has expanded, through the end of the year, the scope of homes eligible for a deferral of the actual-residency requirement in land transaction permit zones to all homes currently under lease. As a result, non-homeowners buying tenant-occupied homes will have broader room to avoid immediate move-in where an existing lease is in place. The measure is a temporary easing of permit-zone rules aimed at reducing the government-identified problem of listings being locked from the market. With the coverage widened to rented homes overall, purchase options for non-homeowners may increase. Source: mk.co.kr.