The Most Anticipated Presidential Pledge... 'Reforming LTV for First-Time Homebuyers'

[Asia Economy Reporter Kim Min-young] Among President-elect Yoon Seok-yeol's real estate pledges, the most anticipated promise is the 'Increase and reform of LTV for first-time homebuyers.' Homeowners showed high expectations for easing tax regulations such as capital gains tax and property tax, while non-homeowners placed greater hopes on loan regulation relaxation and supply policies necessary for purchasing a home.

On the 11th, Zigbang conducted a survey of 858 app users from March 17 to 31, asking "Which real estate pledge of the 20th president-elect do you most look forward to?" The result showed that the pledge to "Increase and reform LTV for first-time homebuyers" was chosen the most at 18.2%. This was followed by △Restoring the 2022 official property price to the 2020 level (15.3%) △Postponement of heavy capital gains tax on multi-homeowners (10.8%) △Supply of more than 2.5 million homes over five years (10.7%), among others.

Expectations for real estate pledges varied depending on homeownership status. Homeowners most frequently selected the "Postponement of heavy capital gains tax on multi-homeowners" (17.1%) as the most anticipated pledge. This was followed by △Restoring the 2022 official property price to the 2020 level (14.4%) △Reduction of acquisition tax burden (11.3%) △Integration of comprehensive real estate tax and property tax (10.9%).

On the other hand, non-homeowners responded most to the "Increase and reform of LTV for first-time homebuyers" at 29.9%. Next were △Supply of more than 2.5 million homes over five years (16.9%) △Restoring the 2022 official property price to the 2020 level (16.6%) △Quantitative and qualitative expansion of public rental housing (10.2%). While homeowners have high expectations for easing tax regulations such as capital gains and property taxes, non-homeowners place their hopes on loan regulation relaxation and supply policies necessary for home acquisition.

By age group, those in their 20s to 40s most anticipated the "Increase and reform of LTV for first-time homebuyers" (25.5%). This was followed by △Restoring the 2022 official property price to the 2020 level (15.0%) △Supply of more than 2.5 million homes over five years (12.4%), with policies necessary for home acquisition ranking high. Conversely, the group aged 50 and above most frequently responded with "Restoring the 2022 official property price to the 2020 level" (15.6%), followed by △Postponement of heavy capital gains tax on multi-homeowners (14.8%) △Reduction of acquisition tax burden (9.7%).

When asked what is most needed in the new government's real estate policy, "Improvement of loan systems" received the highest response at 25.1%. This was followed by △Improvement of real estate tax system (19.7%) △Expansion of housing supply (11.1%) △Eradication of real estate speculation and illegality (9.2%).

A Zigbang official said, "It is difficult to satisfy everyone among various real estate pledges, and since expectations differ by age and homeownership status, a careful approach is needed in prioritizing policies and promoting core policies," adding, "Measures to minimize side effects caused by policy changes should also be presented together."

This content was produced with the assistance of AI translation services.