100 Multi-Homeowners Own About 22,000 Houses... Approaching 3 Trillion Won

[Asia Economy Reporter Ryu Tae-min] The number of houses owned by the top 100 multi-homeowners increased by about 2,000 units in one year. These 100 individuals own approximately 22,000 houses, with an asset value approaching 3 trillion won based on publicly announced prices.

According to data titled ‘Housing Ownership Status of the Top 100 Owners’ received by Kim Hoe-jae, a member of the Democratic Party of Korea, from Statistics Korea on the 22nd, as of November 1st last year, the top 100 housing owners owned a total of 22,582 houses. This is an increase of 1,893 houses (9.1%) compared to one year earlier (20,689 houses).

Applying the publicly announced prices as of January 1st this year, the total value of these housing assets was 2.9534 trillion won, up 429.8 billion won (17.0%) from the previous year. On average, each person owned 226 houses, and the average housing asset value was about 29.5 billion won.

Compared to one year ago, the average number of houses owned per person increased by 19 units, and the average asset value rose by 4.3 billion won. The top 100 owners held 17,244 houses in 2016, but this increased by 31.0% over five years. During this period, the value of housing assets grew from 1.5038 trillion won to nearly double, increasing by 96.4%.

Rep. Kim criticized the government’s inclusion of plans to ease tax and loan regulations on multi-homeowners in next year’s economic policy direction, saying, "The real estate policy of the Yoon Seok-yeol administration is filled with measures to expand speculative income for multi-homeowners," and added, "The government, which should be stabilizing the housing market, is fueling real estate speculation for the wealthy."

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