Policy Agenda for the Housing Sector Delivered to Major Presidential Campaigns
Three Main Principles Proposed for Housing Policy Direction
With the 21st presidential election approaching, the housing industry has delivered its policy agenda for the housing sector?including calls for minimizing regulations?to the major political parties' presidential campaign teams.
The Korea Housing Association announced on the 28th that it had published its "Policy Agenda for the Housing Sector for Economic Recovery and Residential Stability" and submitted it to the presidential campaign teams of major parties such as the People Power Party and the Democratic Party of Korea, as well as to the National Assembly and the government. The Korea Housing Association is a statutory organization established in 1978, led by major domestic housing construction companies. Fifty-nine construction firms, including Samsung C&T and Hyundai Engineering & Construction, are registered as full members.
The association presented three main principles for the new administration's housing policy direction: first, to pursue market-friendly and sustainable policies by minimizing regulations; second, to create conditions that enable smooth housing supply in locations desired by the public, such as urban centers; and third, to promote the supply of future-oriented housing such as modular housing and senior housing in response to environmental changes like low birth rates, an aging population, the increase in single- and two-person households, and carbon neutrality.
In addition, the association proposed ten key agenda items, including the abolition of heavy taxation on owners of multiple homes, tax support for unsold housing in provincial areas, and easing the three-stage stress Debt Service Ratio (DSR) regulation.
Furthermore, the association submitted a total of 30 policy tasks across four categories as sector-specific policy proposals for the housing sector: expanding private housing supply for residential stability; improving unreasonable regulations to revitalize the housing market; advancing technology and quality to lead future housing; and supporting liquidity for construction companies to boost the housing industry.
The association recognized the current housing situation as a crisis, citing the deepening polarization between Seoul and provincial areas and the sharp increase in unsold homes in regional markets.
An association official stated, "The housing industry will continue its own efforts, such as strengthening financial soundness, to overcome the current crisis," and emphasized, "We hope the new administration will actively seek measures to normalize the housing market for economic recovery and residential stability."
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