Kim Moonsoo Vows to Abolish Heavy Taxation on Multiple Homes and Excess Profit Recovery for Reconstruction... Pledges to Resolve Unsold Housing in Regional Areas

Real Estate Pledge Announced: "Vacant Home My Home 153 Project" on the 24th
Tailored Housing Supply for Young People, Newlyweds, and Seniors

Kim Moonsoo, the People Power Party's presidential candidate, announced a real estate policy pledge on the 24th to abolish heavy taxation on multiple home ownership and the reconstruction excess profit recovery system. The aim is to address the issue of unsold housing in regional areas and to increase housing supply in urban centers.

The People Power Party's Policy Headquarters announced the real estate pledge titled "Revitalize the Regions and Resolve Imbalances: The Vacant Home My Home 153 Project" on this day.

Kim Moonsoo, the People Power Party's presidential candidate, is campaigning on Cheolsan Rodeo Street in Gwangmyeong City, Gyeonggi Province on the 22nd. 2025.5.22 Photo by Kim Hyunmin

First, the party plans to have local governments renovate 1.53 million vacant homes nationwide and provide them as free rentals to households in need, thereby easing overcrowding in the Seoul metropolitan area and revitalizing local communities. To achieve this, an online nationwide platform will be created to display the locations and conditions of both renovated and potentially renovatable vacant homes.

The party also proposed abolishing heavy taxation on multiple home ownership to disperse demand for so-called "smart single homes." The comprehensive real estate tax will be changed from a unit-based to a value-based system, and the acquisition tax in non-metropolitan areas will be abolished.

For unsold apartments in regional areas, Korea Land and Housing Corporation (LH) will purchase them, and plans are in place to activate CR-REITs (Corporate Restructuring Real Estate Investment Trusts) targeting unsold homes. The Debt Service Ratio (DSR) regulation, which has been uniformly applied, will be gradually eased in non-metropolitan regions.

The party will introduce "White Zones" (Space Innovation Zones) without regulations and grant local governments designated as White Zones the authority to lift greenbelt restrictions and establish creative development plans.

To promote reconstruction, the party will abolish the excess profit recovery system and enact a provisional "Reconstruction and Redevelopment Promotion Special Act" to reduce construction costs and induce reasonable sales prices.

Additionally, the party will expand half-price rent zones near university areas and renovate 46 aging new towns in regional areas during its term. By abolishing the residency requirement for the reverse mortgage program, the party aims to increase housing supply in city centers.

There will also be tailored housing supply policies for young people, newlyweds, and seniors. More than 10% of public housing will be specially supplied to single-person households, and the supply of lifestyle-separated and generation-coexistence apartments for couples with children and their parents will be expanded.

For newlywed couples, the party will supply 100,000 homes annually that provide housing cost support for a total of nine years: three years upon marriage, three years for the first child, and three years for the second child.

The income threshold for newlyweds applying for the Didimdol mortgage loan will be raised from a combined annual income of 85 million won or less to 120 million won or less. The income threshold for newlyweds applying for the Bogeumjari Jeonse loan will be raised from a combined annual income of 75 million won or less to 100 million won or less.

The People Power Party stated, "We will move away from uniform supply that ignores the winds of change of the times and, through regulatory easing and other measures, resolve supply-demand imbalances between regions and housing types, focusing on customized support by class and generation to bring stability to people's lives."