President Lee Jae-myung "Mass supply of public long-term rental housing... Tax reform will be achieved."

“Mass supply of public long-term rental housing… Tax reform will occur.”

(Seoul = Yonhap News) Reporter Hwang Yoon-ki = President Lee Jae-myung reaffirmed the government's stance on the 5th, saying, "We will definitely keep our promise to escape the real estate speculative republic."

In an article posted on

As for the cause of the real estate problem, President Lee said, "The biggest cause of short-term housing price instability is the sharp decrease in housing supply over time due to a sharp decrease in permits centered on Seoul from 2022 to 2025. The mid- to long-term causes are concentration in the metropolitan area, excessive lending that encourages housing speculation, and unfair tax systems."

He then promised, “Using excess tax revenue, we will provide a large amount of public long-term rental housing for young people and the middle class at an early stage.”

He also predicted, “The number of permits and construction starts has been increasing significantly for some time now,” and “the development of new housing sites and the conversion of existing sites and buildings to residential use are accelerating, so supply will soon increase significantly.”

In addition, he emphasized, "We will ease concentration in the metropolitan area through balanced development policies such as relocation of administrative agencies and public enterprises to regional areas and the three mega and seven seed projects centered on regional areas. We will also achieve world-class household loan adjustment and tax reform in line with tax justice."

President Lee added, "In particular, our country has a high proportion of real estate assets and a large number of household loans globally. I hope you will take a close look at the flow of funds into productive finance and the trends in international base interest rates."