"Monitoring Non-resident Single-Home Owners and Jeonse-Wolse"... DP Considers 'Non-Apartment' Supply

[Anchor]

While the Democratic Party officially evaluates the recent real estate tax law revision as "tax normalization," cautious voices are also emerging internally. Amid a consensus that measures for the jeonse and wolse rental markets are lacking, plans to expand the supply of "non-apartment" housing, such as villas and officetels, are being reviewed within the party.

This is a report by Park Jae-yeon.

[Reporter]

Democratic Party lawmakers representing Seoul constituencies and Seoul Metropolitan Council members held a closed-door meeting today (August 6).

It is reported that they examined how the real estate tax law revision announced on the 3rd would impact public sentiment in Seoul and discussed various angles, including the "tax burden issue for non-resident single-home owners."

[Oh Gi-hyung / Democratic Party Lawmaker: There seem to be opinions that we should be more flexible regarding parts that are considered actual residence (even if they are non-resident)...]

A Seoul Metropolitan Council member stated, "There are cases of non-residence for various reasons other than jobs or education, so everyone agreed on the need for sophisticated policies."

A Seoul constituency lawmaker also emphasized, "We need to prepare for the possibility that increased tax burdens could be passed on to tenants, as well as the issue of jeonse and wolse shortages."

It is known that there were many discussions regarding jeonse and wolse countermeasures, driven by concerns that reducing tax benefits for non-resident single-home owners and multiple-home owners could shift the burden onto tenants.

Measures to expand housing supply also drew attention.

[Kim Nam-guk / Democratic Party Lawmaker: There is a consensus that we must focus on solving the supply cliff issue...]

The Democratic Party is looking into increasing the supply of non-apartments, such as villas and officetels, which take relatively less time to actually supply, alongside apartments.

A lawmaker from the Democratic Party leadership stated, "Reflecting budgets related to modular housing, which has high construction costs but can be built the fastest, in next year's budget bill is also under review."

In response to the government's tax law revision, the People Power Party continued its criticism, stating, "Policies that refuse to listen to the other side will pay a price."

[Yoon Sang-hyun / People Power Party Lawmaker (at a debate evaluating the tax revision): Dropping a tax bomb even on single-home owners, and dropping a bomb on ordinary citizens and young people struggling with jeonse and wolse shortages...]

Meanwhile, the presidential office will hold the "2nd Real Estate Policy Inspection Meeting" presided over by President Lee Jae-myung tomorrow afternoon to discuss measures for expanding housing supply.

(Photo: Yonhap News - Note: Please keep original video/design credits below as they appear)
(Video reporting: Oh Young-chun, Kim Yong-woo | Video editing: Won Hyung-hee | Design: Jang Seong-beom)
※ Please note: This article was translated by AI and may contain errors.