(1) Where the increase rate of real estate price of the relevant area is higher than that of the national consumers price, and where the real estate price in the relevant area has increased excessively or is apprehended to increase excessively, taking into account the increase rate of the real estate prices, etc. on a national basis, the Minister of Strategy and Finance may designate such area as a designated area according to the standard and methods prescribed by Presidential Decree.
(2) "Real estate located in a designated area" in Article 104 (4) 3 means real estate specified by Presidential Decree, among that located in a designated area under paragraph (1). <Amended by Act No. 14389, Dec. 20, 2016; Act No. 15225, Dec. 19, 2017>
(3) The Deliberative Committee on Stabilization of Real Estate Prices shall be established in the Ministry of Strategy and Finance to deliberate on designation and cancellation of a designated area under paragraph (1) and other necessary matters.
(4) Matters necessary for standards and methods for cancelling a designated area under paragraph (1) and for composing and operating the Deliberative Committee on Stabilization of Real Estate Prices, shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]