President Lee: "The Myth of Invincible Real Estate Is Over... Normalization Is an Unstoppable Trend"
by Lim Chulyoung
Published 06 May.2026 07:25(KST)
Updated 06 May.2026 10:51(KST)
Reaffirms Commitment to Normalizing Real Estate Market
"Korea Is Returning to Normalcy, Just Like the Removal of Illegal Valley Facilities and Restoration of the Stock Market"
On 'Wildfire Cartel' Coverage: "Ordered Review of Fundamental Solutio
President Lee Jaemyung reiterated his commitment to normalizing the real estate market on May 6, stating, "Real estate invincibility? That myth no longer exists."
On this day, President Lee shared an article entitled "Outlook on Housing Prices Reversed in Three Months... Rise of Decline Predictions" on his X (formerly Twitter) account, writing, "Everything in Korea is returning to normal, from removing illegal facilities in valleys to restoring the stock market."
He further emphasized, "Normalizing real estate is an inevitable trend of the times and an essential national task that must be accomplished."
The article shared by President Lee detailed how the outlook on housing prices among real estate experts and licensed agents has shifted significantly in just three months. According to a KB Financial Group real estate report, in January, 81% of experts and 76% of agents forecasted a nationwide increase in home sale prices this year. However, a survey conducted in April showed that 44% of experts and 54% of agents now expect a decline.
Among the group of experts, those expecting a price increase (56%) still slightly outnumbered those predicting a decline, but among licensed agents, the majority now foresee a decrease. Expectations for a rise in sales prices in the greater Seoul area have also weakened compared to January.
President Lee's message is seen as reinforcing the government's stance on stabilizing the real estate market. Throughout his term, President Lee has repeatedly stated that while owner-occupiers of a single home should be protected, tax and financial benefits for non-resident investors and speculative multi-home owners should be withdrawn.
Particularly, with the suspension of heavy capital gains tax rates for multi-home owners set to end on May 9, there is growing attention in the market regarding the flow of properties and the direction of housing prices in the aftermath. The Blue House and the government have announced plans to implement tax, financial, and supply measures in parallel to prevent the real estate market from once again being driven by speculative demand.
Meanwhile, President Lee also shared a report about the poor progress in wildfire recovery, which cited the participation of incompetent companies in the bidding process and the existence of a so-called "wildfire cartel" that allowed such practices to persist. He expressed his appreciation for the report and stated, "I have instructed the Cabinet to investigate the long-standing neglect of such structural corruption and irregularities and to review fundamental countermeasures and disciplinary actions."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.