President Lee Jae-myung said, "We will mobilize all policy tools to create a situation in which not only owners of multiple dwellings but also owners of a single, non-residential investment or speculative dwelling find it more advantageous to sell than to hold."
On the 26th, the president said on social media (SNS) X that "ultra-high-priced dwellings will face corresponding burdens and regulations at the level of advanced nations' capitals," and stated accordingly.
The president said, "All kinds of regulations and burdens will be designed based on a single, actual residential dwelling, with fine-tuned weights according to whether it is for residence, the number of dwellings, dwelling price levels, regulatory details, and regional characteristics, so that ordinary residence is actively protected while investment and speculation using dwellings are thoroughly blocked."
He added, "The core of normalizing the Republic of Korea is to ensure that those who go against government policy and break the rules do not profit," and said, "Locked-up listings will suffocate, and holding out will bring a heavier burden."
Earlier, regarding the "special deduction for long-term holding," widely seen as a representative tax-saving tool, the president noted, "If it is for investment or speculation rather than residence, reducing taxes just because of long-term holding looks odd," raising the possibility of adjusting the system.
The president also said, regarding the grace period for the heavier capital gains tax on sales by owners of multiple dwellings, which ends on May 9, "For the authority and credibility of government policy, we cannot leave a situation where those who held out as owners of multiple dwellings are better off than those who sold before May 9."
He went on, "With the formidable powers of taxation, finance, and regulation, there are ample measures we can take to stop nation-wrecking real estate speculation."