Politics · South Korea · 5 hrs ago
Nowon to cut property agent fees by up to 20% for redevelopment movers
Nowon District in Seoul has agreed with its local real estate agents’ association to cut brokerage fees by up to 20% for people forced to move because of redevelopment or reconstruction.
The discount applies to both homeowners and tenants in designated project areas.
It covers home purchases and rental contracts, including moves to places outside Nowon, if residents use a participating agent.
The first areas covered are Wolgye Dongsin Apartment and the Sanggye 1 redevelopment zone, where about 3,200 people are expected to begin moving in the second half of this year.
Residents must bring proof of their relocation from their project association and sign with one of the participating offices; 19 offices currently take part.
The district plans to extend the scheme to other redevelopment areas, where about 10,000 more residents across eight projects could benefit.
The discount is intended to ease moving costs as residents relocate during major housing projects.
Nowon District will offer redevelopment and reconstruction residents discounts of up to 20% on statutory real estate brokerage fees when they move.
The agreement covers both homeowners and tenants, and applies to sales or rental contracts, including for homes outside Nowon.
The first eligible areas are Wolgye Dongsin Apartment and the Sanggye 1 redevelopment zone, where about 3,200 people are expected to begin moving in the second half of 2026.
The district plans to extend the program to other areas, potentially benefiting about 10,000 additional people across eight redevelopment zones.
Residents must use a participating brokerage office and provide a relocation confirmation document issued by their redevelopment association.
- Who
- Nowon District and the Nowon branch of the Korea Association of Realtors agreed to the program. Eligible residents include homeowners and tenants in redevelopment zones.
- What
- Residents can receive a discount of up to 20% on statutory brokerage fees for a property sale or rental contract when moving.
- When
- The agreement was signed on October 13, 2026. Residents in the first eligible areas are expected to start moving in the second half of 2026.
- Where
- The program first applies to Wolgye Dongsin Apartment and the Sanggye 1 redevelopment zone. The new home can be outside Nowon if the contract is handled by a participating brokerage.
- Why
- The program aims to ease moving costs for residents displaced by redevelopment or reconstruction and support a stable move.
This story does not have two clearly opposing sides.
Nowon District and the Nowon branch of the Korea Association of Realtors signed an agreement on brokerage fee discounts for residents moving from redevelopment zones.
Nowon District announced the support program.
About 3,200 people from the first two eligible areas are expected to begin moving.
- Maximum discount
- 20% of statutory brokerage fees
- First eligible areas
- Wolgye Dongsin Apartment and Sanggye 1 redevelopment zone
- People in first areas
- About 3,200
- Planned expansion
- Eight redevelopment zones
- Potential additional beneficiaries
- About 10,000
3 sources
What people are saying
We will carefully support residents so they can reduce the financial burden they face during relocation and resettle stably, while swiftly advancing redevelopment and reconstruction projects.
I thank the Nowon branch of the Korea Association of Realtors for working with us to ease the burden on people moving.