1000 Multi-Homeowners Scoop Up 44,000 Houses... Purchase Amount Hits 5.8 Trillion Won

Min Hong-chul, Democratic Party of Korea lawmaker (Photo by Yonhap News)

[Asia Economy Reporter Ryu Tae-min] It has been found that the top 1,000 homebuyers purchased more than 44,000 housing units over the past five years.

According to data submitted by the Ministry of Land, Infrastructure and Transport to Min Hong-cheol, a member of the National Assembly Land, Infrastructure and Transport Committee from the Democratic Party of Korea, from August 1, 2017, to July 31 of this year, the top 1,000 individuals who purchased the most housing units?including apartments, multiplexes, and detached houses?bought a total of 44,022 units over the past five years. The total purchase amount by these individuals reached 5.84533551 trillion KRW.

The individual with the highest number of home purchases, Mr. A, born in 1972, bought 791 housing units over five years, with a purchase amount of 115.5769 billion KRW. Mr. B, born in 1980, purchased 703 units with a total purchase amount of 114.6851 billion KRW during the same period.

Notably, among the top 1,000, there were three individuals born in 2000. These three 2000-born buyers purchased a total of 84 housing units, with a total purchase amount of 6.24484 billion KRW. Additionally, there were 61 buyers born in the 1990s, who purchased 2,695 units with a total purchase amount of 401.35998 billion KRW.

Assemblyman Min Hong-cheol pointed out, “The Yoon Seok-yeol administration’s tax reduction plan for multi-homeowners essentially creates an environment that allows real estate speculation forces to monopolize the real estate market.” He emphasized, “Instead of a tax cut policy for the wealthy that deepens wealth polarization, we need to establish housing stability measures that the public and society can fully agree upon.”

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