The province’s regulation requiring proof that a vehicle owner has a parking space will go into effect across the island beginning next month.

As many of the houses in the old downtown of Jeju City don’t have their own garage, the province’s policy is affecting the local housing market and will likely intensify population outflow from the area.

Joseph Kim reports.


[slug] Ildo-1 dong, Jeju City

This is a part of the old downtown of Jeju City where old homes are densely packed.

Most of the houses in this area don’t have their own garage.

[slug] Only 7% has private parking space

Among 770 houses in the area, only 50 houses have a private garage.

That’s just 7 percent.

Most of the houses were built before 1996, when the province set regulations on private parking spaces.

INTERVIEW
So Sun-bong / Resident, Ildo-dong, Jeju City
It is impossible to expand the old house to build a garage, unless houses are newly built. There aren’t enough public parking lots near here.
<인터뷰 : 소순봉/ 제주시 일도동>
"다 이거 옛날 집이라서 확충이 안되잖아요. 다 새로 건물을 지으면 모를까. 근처에 주차장 만들어주는 것도 아니고."



Less than 20 percent of houses in downtown areas have their own parking space.

That’s half of the average of Jeju City at 40 percent.


Possession of Garage in Old Downtown of Jeju City
(Source: Province)

Ildo 1-dong 7%
Ildo 2-dong 15%
Yongdam 1-dong 18%
Geonip-dong 20%
Ido-dong 20%
Samdo-dong 20%

Jeju City average 40.2%



[slug] Absence of garages lead to fewer housing transactions

In 2017, the province introduced the policy that requires proof of having a parking space when a car owner moves in a new place or newly registers a car in Jeju City.

The regulation will expand to cover the whole island beginning next month.

Real estate agents say the number of housing transactions in the old downtown area has decreased since the houses in the area don’t have a parking space.

Homebuyers seek homes with a garage to fall in line with the province’s policy.

Recording
Real estate agent
Most of my clients seek a house with a garage. (Do they ask first?) They want a house that has enough space to park a car.
<싱크 : ○○부동산 관계자>
"지금 집 찾는 사람들은 거의 다 주차장 있는 걸 찾더라고요. (그걸 미리 물어보세요?) 대문 부수고 주차할 수 있는 정도의 집을 찾아요."

[slug] Emptying of old downtown likely to be intensified

The population has already decreased and the local economy has been stagnant.

The old downtown areas are emptying due to the garage policy.

Experts anticipate that the phenomenon will be intensified.

INTERVIEW
Ko Chang-deok / Korea Association of Realtors
It’s hard to secure a garage in downtown areas. Both people seeking to purchase and rent houses are looking for those with a garage. Both purchase and lease transactions will be sluggish.
<인터뷰 : 고창덕 / 한국공인중개사협회 제주도지부장>
"구도심은 이미 차고지 확보가 힘들어요. 임대차하는 사람들도 이제 차고지를 구할 수 있는 곳으로만 찾아서 움직이거든요. 매매뿐 아니라 임대차 거래까지 힘들어지는 걸로 볼 수 있습니다."

The province plans to charge fees for public parking lots and parking spaces on roads (to add more parking space?) in the downtown area.

[Reporter] Joseph Kim
[Camera] Hyeon Gwang-hoon
[CG] Kim Eun-kyo

Concerns are growing over the hollowness of downtown areas as people are leaving due to the garage policy.

Joseph Kim, KCTV