Yoon's Side: "Real Estate Rising Amid New Government Expectations... Discussing Measures"

House Prices Rebound Amid Expectations of Real Estate Regulations
Baehyeonjin "Transition Team Discussing How to Respond"

Baek Hyun-jin, spokesperson for President-elect, is giving a daily briefing on the 15th at the briefing room of the Presidential Transition Committee in Tongui-dong, Jongno-gu, Seoul.
[Image source=Yonhap News]

The office of President-elect Yoon Seok-yeol recently commented on signs of rising real estate prices, stating, "It seems there is a sense of anticipation ahead of the new government's inauguration," and that the Presidential Transition Committee is discussing countermeasures.

On the morning of the 15th, Bae Hyun-jin, spokesperson for the president-elect, responded to questions about rising housing prices at a press conference held at the Transition Committee in Tongui-dong, Jongno-gu, Seoul, saying, "Real estate issues are a crucial pillar driving the economy, so the Transition Committee is focusing particularly on discussing them."

Spokesperson Bae added, "Despite 26 real estate policies over five years under the Moon Jae-in administration, the policies were ineffective and caused public hardship, so there is a sense of expectation for the new government," and "with the spring moving season approaching, demand is emerging, which seems to be causing real estate prices to start rising."

She continued, "The president-elect and the Transition Committee are discussing how to respond to the (real estate price) increases going forward and how to ensure that it helps people's livelihoods without disruption," explaining, "Specific matters will be announced through policies at the Transition Committee level."

It is reported that the Transition Committee is in the final stages of selecting national agenda items related to real estate for the new government.

On the same day, Won Il-hee, senior deputy spokesperson for the Transition Committee, told reporters, "The Transition Committee's stance on real estate (policy) has been somewhat finalized and is in the collection phase," adding, "Final confirmation remains, and if possible, we plan to schedule direct announcements in the form of daily briefings."

Recently, the real estate market has shown signs of price increases due to expectations of deregulation under President-elect Yoon.

According to the Korea Research Institute for Human Settlements on the same day, the housing market consumer sentiment index nationwide was 113.1 last month, up 4.6 points from 108.5 the previous month. Seoul also recorded 113.5, showing an upward trend compared to 108.1 the previous month.

An increase in the consumer sentiment index means that more people believe housing prices will maintain their current level or rise rather than fall.

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