President Lee Jae-myung held a national public debate on real estate policy. First, he pointed out that the preference for "one high-value home" has caused serious problems in society. He stated that if holding taxes had been normalized in the past, housing prices would not have risen to this extent, adding that it is important to determine the extent, scope, and differential application of holding taxes.
This is reported by Park Yerim.
During the live-broadcasted "National Public Debate on Real Estate Policy" held yesterday morning (the 23rd), President Lee Jae-myung responded as follows to an attendee's question asking what the government's real estate policy goal is.
[Yang Ji-young / Private Real Estate Expert: Is the goal market stabilization, a drop in housing prices, or regulation on gap investments or multiple homeowners?]
[President Lee Jae-myung: To put my thoughts simply, it is not about forcing prices down.]
President Lee added that the goal is not to ignore market order and control prices, but rather to prevent housing prices from being formed incorrectly due to abnormal supply and demand.
Regarding the so-called "one high-value home" phenomenon of owning a single expensive apartment, he pointed out, "It has caused serious problems in our society" and "rather, it has created an opportunity for efficient speculation."
[President Lee Jae-myung: While we respect and protect one-household, one-home ownership, because we treated them all the same regardless of whether they were expensive or cheap, it enabled people to efficiently buy one home and enjoy investment gains.]
The debate also touched upon how much a home should cost to be subject to strengthened holding tax burdens for ultra-high-end housing.
[Jung Se-eun / Professor of Economics, Chungnam National University: So, up to about twice the national average. (Shall we view homes priced over 1 billion won as ultra-high-end?) Yes, that is correct.]
Counterarguments against the strengthening of taxes itself were also raised.
[Kim In-man / Real Estate YouTuber: If we hit ultra-high-end housing, will apartments priced under 1.5 billion won stabilize? If we hit non-residents and multiple homeowners, those people ultimately end up hitting tenants...]
President Lee stated that the degree and scope of strengthening holding taxes are important, and since housing price issues are fatal once they erupt, preparations must be made even if it means incurring political losses.
[President Lee Jae-myung: If we had normalized holding taxes in the past, prices would not have risen to this extent.]
President Lee also mentioned that providing unlimited capital gains tax exemption benefits to single-home owners seems problematic, bringing up measures such as limiting the number of times or the total amount.
(Photo: Yonhap News / Video reporting: Jung Sang-bo, Ha Ryung / Video editing: Wi Won-yang)
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