The article from Hankyoreh analyzes the significant decline in housing price expectations among consumers in South Korea, following recent government measures aimed at stabilizing the real estate market. According to the Bank of Korea's latest consumer trend survey, the housing price outlook index dropped sharply from 124 in January to 108 in February, signaling that optimism about future price increases is waning. This is the most considerable drop since September 2022 and suggests a shift in consumer sentiment influenced by impending changes to the capital gains tax for multiple homeowners and ongoing government efforts to combat real estate speculation.

President Lee Jae-myung's strong stance against speculative housing investments appears to have resonated with the public, leading to a notable influx of discounted apartment listings as multiple homeowners react to the planned resumption of heightened capital gains tax. The article points out that while some experts view the current decline in housing prices as a positive development, there are concerns about the possibility of market stagnation once the higher taxes come into effect, potentially prompting property owners to withdraw listings as a strategy to avoid increased tax burdens.

To ensure sustained stability in the housing market, the article underscores the necessity for the government to follow through on its commitments to increase housing supply while also implementing additional measures like strengthening property taxes on speculative holdings. Establishing a more equitable tax burden for investment properties is suggested as a key step toward achieving a balanced and stable real estate environment, which would benefit both the market and the overall economic landscape of South Korea.