Seoul city will hold a public debate to hear citizens' opinions three days after announcing its real estate tax reform plan.
Seoul city said on the 5th that it will hold a 90-minute "citizens' grand debate for real estate normalization" at 10 a.m. on the 6th in the main building's third-floor auditorium. It will also be streamed live on the city's official YouTube channel. Online viewers can participate in the discussion through real-time comments.
The debate will be attended by Mayor Oh Se-hoon of Seoul, young adults without homes, nonresident single-home owners, private rental business operators, real estate experts, and others. A Seoul city official said it is "a venue to hear, without filters, the burdens and concerns that citizens feel."
Seoul city has maintained that stabilizing the housing market requires a substantial expansion of supply through redevelopment projects rather than raising the tax burden.
Mayor Oh said, "If the government's tax reform chills the jeonse and monthly rent market, the burden could ultimately fall on working-class people and young adults," adding, "Through this debate, I will hear directly what citizens are actually worried about."
He added, "The fundamental solution to stabilizing the housing market is not taxes but sufficient supply of dwellings," and said, "We will accelerate policies that can practically increase supply in Seoul, including redevelopment and reconstruction."