Meaning of "Re-conversion"
This is a system that requires the government to recover any excess profits generated by redevelopment projects that exceed a certain threshold (short for the "Redevelopment Excess Profit Recovery System").
"The district office calculated and notified residents individually whether they were eligible for the re-purchase program based on income and development profit criteria."
Related slang words
AparthotelA term combining "apartment" and "officetel," referring to a residential officetel that features a floor plan and living conveniences similar to those of an apartment.Quota systemAn abbreviation for the "sales price cap system," this is a policy that limits sales prices on public land and other sites to a certain amount or less to prevent excessive capital gains.MortgageThis is a typical real estate loan product in which funds are borrowed from a bank using a home as collateral.RawAn abbreviation for "residential accommodation facilities," this term refers to lodging facilities that allow cooking but are effectively used exclusively for residential purposes, a practice that has sparked social controversy.Restrictions on resaleThis is a system designed to curb speculative demand by restricting the sale or resale of pre-sale rights or apartments for a certain period after their acquisition, thereby preventing their resale until a specified date.Gongpung-ahThis is an abbreviation created to convey the idea that the apartment complex “embraces” the park, emphasizing its location right next to a large park.Rent-to-price ratioThis is an indicator that quantifies the proportion of the jeonse deposit relative to the sales price, showing the extent to which the jeonse deposit accounts for the total sales price.Loan regulationsMeasures taken by the government to manage household debt by restricting or tightening limits, interest rates, and eligibility criteria for mortgage loans in order to regulate lending