President Lee Jaemyung stressed that "people suffering from soaring housing prices deserve more consideration than multiple-home owners who speculate in real estate and unjustly expect that the grace period will be extended again."
On the 4th, President Lee made this point as he shared on X a newspaper editorial that argued it would be difficult for multiple-home owners, whose properties are occupied by tenants within land permit zones, to dispose of those properties by the end of the capital gains tax heavy-taxation grace period.
President Lee then rhetorically asked, "Is it not the responsibility of those multiple-home owners who failed to prepare, given that the termination has been scheduled every year since four years ago?"
Recently, President Lee has been expressing his commitment to stabilizing the real estate market ahead of the end of the capital gains tax heavy-taxation grace period, posting about it on X on a daily basis. The previous day as well, he attached a report that listings were increasing in the three Gangnam districts of Seoul and wrote, "There are so many bogus reports saying 'There is no effect, no properties are coming onto the market.' What could be the reason for such false reporting?"
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
