United Future Party: "Government Must Escape Real Estate 'Regulation-Only Doctrine'"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] The United Future Party criticized the government's 21st real estate policy, saying, "The government's regulatory omnipotence is nothing but a wrong answer to real estate policy."

Hwang Gyu-han, deputy spokesperson of the United Future Party, said in a statement on the 17th, "Since this government took office, the 21st real estate measure has been announced, but it is a repetition of the stubbornness that house prices can be controlled with superficially repackaged regulations."

He pointed out, "While the government has been recklessly issuing patchwork real estate measures, apartment prices in Seoul have soared by 21.7% over the past two and a half years, and for the first time in the past year, the price per pyeong for new apartments reached the 27 million won level. Democratic Party lawmakers, who promised to lower real estate-related tax rates before the election to gain votes, remain silent despite numerous regulations and sneaky tax increases. On the contrary, they are pushing absurd real estate legislation that allows indefinite lease extensions without the consent of landlords."

Deputy spokesperson Hwang said, "In a situation where a supply cliff is expected next year, today's government measures will only become an 'ok-sang-ok' (屋上屋, a superstructure on a superstructure) that causes a balloon effect," and urged, "Please break away from the 'regulatory omnipotence' that believes house prices can be controlled by regulation."

He pointed out, "What the government’s role in our real estate market needs now is to supply quality housing through deregulation of redevelopment and reconstruction, to create conditions for ordinary people to purchase homes by easing mortgage loan standards, and to curb the rise in official prices by abolishing the price ceiling system for new apartments."

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