The Ministry of Land and Resources (MLR) said it will check land transactions completed since the beginning of the year to monitor unusual price fluctuations and prevent rebounds in residential land prices.

Local governments at or above the county level should check land transactions completely since January and report before June 30 about land transactions of unusually high prices, said the MLR.

The MLR previously ordered local governments to submit reports on those lands auctioned with the premium rate exceeding 50 percent and the total value or per square meter prices hitting record highs.