The First Real Estate Measures After Inauguration... Lee "Massive Supply" Yoon "Easing Loan Regulations"

Joint Presidential Candidate Debate of the Three Terrestrial Broadcasters

[Image source=Yonhap News]

[Asia Economy reporters Naju-seok and Park Joon-yi] Presidential candidates identified major supply measures and easing of loan regulations as the first real estate policies they would address upon taking office. Lee Jae-myung, the Democratic Party presidential candidate, and Ahn Cheol-soo, the People Power Party presidential candidate, promised large-scale supply measures, while Yoon Seok-youl, the People Power Party presidential candidate, pledged to ease loan regulations. Sim Sang-jung, the Justice Party presidential candidate, emphasized a political consensus to lower housing prices.

In a joint presidential debate hosted by the three major terrestrial broadcasters on the 3rd, candidate Lee said, "The public has suffered greatly due to real estate issues," diagnosing that "the housing problem should be solved in a market where supply and demand function properly, but supply has been excessively suppressed." He stated, "I will implement a large-scale supply expansion policy as my top priority so that people can secure their own homes and stabilize the housing market."

Candidate Yoon said, "Whether it is a home or a rental, we need to remove institutional obstacles that hinder finding a house," adding, "First, I will ease loan regulations so people can get loans to buy homes, and since rental contracts will expire in July leading to expected rent increases, I will revise the three lease laws first."

Candidate Ahn said, "The goal of real estate policy is housing stability," and added, "Housing price stabilization is necessary, and if I become president, I will immediately increase supply so that people without homes can own their own." He also said, "Currently, the homeownership rate is 61%, and I will do my best to raise it to 80% by the end of my term."

Candidate Sim said, "Stabilizing housing prices is the most urgent," emphasizing, "The current housing prices are at their peak, and a political consensus to lower and stabilize housing prices must come first." She added, "Above all, there will be an agreement to end the era of making money from land and houses," and stated, "I will lead a political consensus that prioritizes policies for the 44% of citizens without homes through supply policies."

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