Ahn Cheol-soo: "Only the Super-Rich with 2.7 Billion Won in Cash Can Buy President Lee's Apartment"

"President Lee's Apartment Sale Is an Ineffective Show"
Calls for Policy Improvements Such as Expanding Loans for Genuine Buyers

Ahn Cheol-soo, a member of the People Power Party, directly criticized President Lee Jae-myung's decision to sell his apartment in Bundang, calling it "a case of knowing one thing but not the other." He argued that, despite claims that the move demonstrates a will to normalize the real estate market, it is ineffective because the expensive listing is practically inaccessible to genuine buyers.

Ahn Cheolsoo, a member of the People Power Party, expressed criticism regarding President Lee Jae-myung's decision to sell the apartment in Bundang.

On March 1, Ahn posted on his Facebook page under the title, "'President Lee's 2.9 billion won apartment: Isn't it a home that only the super-rich with 2.7 billion won in cash can buy?'" to voice his criticism.

Ahn stated, "President Lee Jae-myung has listed his Bundang apartment for 2.9 billion won," adding, "He claims to be personally demonstrating his commitment to real estate normalization, but this is a narrow perspective, missing the bigger picture."

He pointed out that, due to loan restrictions on high-priced homes, it is realistically difficult for ordinary buyers to access such properties. Ahn said, "Not just anyone can buy President Lee's 2.9 billion won apartment. Because the October 15 loan regulations limit loans for houses priced over 2.5 billion won to a maximum of 200 million won, a buyer would need at least 2.7 billion won in cash. When acquisition tax and brokerage fees are included, over 100 million won more would be required," he explained.

He then questioned, "In the end, wouldn't the only buyers able to immediately deposit 2.7 billion won plus alpha in cash be a very small group of the super-rich?" He further emphasized, "Even if President Lee tries to stoke resentment against owners of multiple homes or intimidate non-resident single homeowners and puts his apartment on the market, only ultra-high-net-worth individuals could possibly purchase these listings."

Ahn also addressed the issue of asset polarization. He stated, "According to the 2025 Household Finance and Welfare Survey, the asset gap in our country has worsened to its highest level since statistics began. The top 10% by assets now hold 46% of all household assets-nearly half." He argued, "If, like President Lee is doing now, we deprive ordinary and middle-class citizens of the right to buy a home and only increase opportunities for the upper class to accumulate more apartments, our society will soon devolve into a 'super-gap society' where upward mobility is cut off for years to come."

This content was produced with the assistance of AI translation services.