Lee Jae-myung's Warning Against Seoul Property Speculation Fails to Curb Price Surge

Opposition leader Lee Jae-myung has issued a strong message against South Korea’s real estate speculation, condemning property investors who purchase units in large quantities. In his statement, Lee encouraged property speculators to take advantage of buying and selling opportunities before the government implements heavier property taxes, with a commitment to suppress the housing price surge “by any means necessary.”

Tax Ultimatum for Real Estate Speculators

Lee emphasized that the housing crisis has created an urgent social condition for the younger generation. The rising costs of homeownership are forcing many young people to delay or cancel marriage and childbirth plans, ultimately threatening the long-term stability of the country’s social structure. This tough approach reflects the government’s effort to give “a last chance” to property investors before stricter taxation is enacted as a tool to curb speculation.

Seoul Apartment Prices Remain Out of Reach for Most People

Despite a series of policy interventions, market data shows disappointing results. Apartment prices in Seoul have experienced consistent increases over 52 consecutive weeks, defying all government regulatory efforts, including tighter access to loans. The failure to control the soaring housing prices has become a weakness for politicians in addressing the most urgent socio-economic crisis facing the people.

Latest Survey: Majority of Citizens Skeptical of Housing Policies

Public confidence in the strategies to control the property market shows a troubling trend. According to a recent Gallup Korea survey, 40% of respondents expressed deep dissatisfaction with Lee’s housing policies, while only 26% showed positive support. The survey also revealed a pessimistic outlook: nearly 50% of respondents predict housing prices will continue to rise next year, with only 19% optimistic about a decline. These figures indicate that property market speculation remains a major concern for South Korean society, and existing control efforts have not been convincing enough to change public perceptions about the market’s future.