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]