N. Korea cracks down on illegal housing transactions
North Korean authorities recently issued an order to the Ministry of Social Security and housing management departments of people’s committees to eliminate the practice of people buying and selling state-owned houses without proper approval.
The North Korean real estate market has 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.
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 individuals seeking to capitalize on the opportunity to buy good-quality houses.
It further stated that the Ministry of Social Security is in charge of rooting out this “inhumane and capitalist phenomenon” in partnership with local people’s committees. ......
[Source: Daily NK]
