People Power Party: "Have you only now seen the suffering people... Real estate must be restored to its original state"

On the 8th, the view of apartment complexes in Seoul city from the Seoul Sky observatory at Lotte World Tower, where Seoul apartment prices have been rising for 18 consecutive weeks and jeonse prices for 67 consecutive weeks. According to the weekly apartment price trend announced by the Korea Real Estate Agency on that day, as of the 5th, Seoul apartment sale prices rose by 0.01% and jeonse prices by 0.08%, showing only a 0.01 percentage point decrease compared to the previous week's increase. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Lee Ji-eun] The People Power Party raised their voice against the government and ruling party, pointing out the sharp rise in jeonse prices and stating that "the real estate market must be restored to its original state."

Yoon Hee-seok, spokesperson for the People Power Party, said in a statement on the 20th, "It is already being proven that the government's real estate policy was simply nonsensical."

He referred to recent jeonse practices such as deciding tenants by rock-paper-scissors and setting conditions like "50,000 won for 10 minutes" while showing houses, criticizing, "The government, consistent in incompetence and irresponsibility, and the ruling party, which used landlords and tenants to create division, have caused only ordinary people to suffer."

Spokesperson Yoon said, "Only now, as the suffering citizens have become visible, Lee Nak-yeon, leader of the Democratic Party of Korea, said he would start with reflection on real estate policies and on-site inspections," adding, "Now the government must respond. It must abandon its obsession with misguided policies born from unrealistic beliefs and restore the real estate market to its proper state."

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