The People Power Party lashed out at the government and ruling camp's real estate supply measures.
People Power Party lawmakers from Seoul held a forum at the National Assembly on the 19th under the theme, "Blocked supply, punitive taxation - what is wrong with the Aug. 13 real estate measures." Oh Se-hoon, the Seoul mayor, attended in person.
Mayor Oh said, "The current real estate market is in a triple rally with sale, jeonse and monthly rent all rising. It means the market does not trust government policy," adding, "Even so, what the government is putting forward is not a clear supply signal but more punitive taxes and regulations."
Mayor Oh emphasized, "If failed policies are insisted upon even while knowing people will suffer, that is not a mistake but dogmatism," and "Seoul already has the most certain and proven supply alternatives. They are redevelopment and reconstruction."
He went on, "Even if only the maintenance projects planned by the Seoul city government proceed normally, we can break ground on 310,000 homes by 2031," and said, "We must first lift the key regulations that are still blocking the pace of projects, such as restrictions on transferring association member status, floor area ratio controls on private maintenance projects, and the share of rental housing in redevelopment."
Bae Hyun-jin, a lawmaker who chairs the People Power Party's Seoul chapter, criticized the government's tax reform plan. Bae said, "It is so sloppy and sly that it virtually collapses the ladder to live in Seoul and practically tells people to leave Seoul," diagnosing that "fears over housing regulations that force loans to be blocked, one residence per household, and actual residence through taxes, and fears over supply measures have become negative factors fueling the rise in Seoul home prices."
Kim Jae-seop, the lawmaker for Dobong A district, also said, "Dobong-gu is one of the areas most harmed by the triple rally. Even for me, the jeonse for the same floor area has gone up by 150 million won right away, so when I renew next year I have to add another 150 million won."
Kim said, "While the Moon Jae-in administration can be assessed as having had a different direction or having been ignorant regarding real estate policy, the Lee Jae-myung administration is going in reverse despite clearly knowing the answer," pointing out, "Even though it has already been proven multiple times that reconstruction and redevelopment are the ways to provide supply most smoothly, accurately and quickly, they have been blocked."
Mayor Oh and People Power Party lawmakers also made clear their opposition to the recent proposal to supply dwellings on the Yongsan Park site that has stirred controversy. Mayor Oh said, "We must not try to cover up the responsibility for failing to rein in housing prices with Yongsan Park." Jo Eun-hee, the lawmaker for Seocho A, said, "Before building houses in parks, we should first open the blocked path by pushing forward with redevelopment and reconstruction in the city center."