Feb 26 β€’ 16:11 UTC πŸ‡°πŸ‡· Korea Hankyoreh (KR)

President Yoon: It will be more advantageous for even single homeowners for investment and speculation to sell rather than hold.

President Yoon has proposed policies aimed at making it more beneficial for single homeowners who are engaged in investment or speculation to sell their properties instead of holding onto them.

On the 26th, President Yoon Jeong-won announced that the government would leverage all policy tools to ensure that not only multi-homeowners but also single homeowners engaged in investment and speculation find it advantageous to sell their properties. He emphasized the need for a regulatory framework that protects genuine homeowners while effectively limiting investments and speculative practices in the housing market. The President signaled potential changes to tax exemptions for long-term holdings, suggesting that those who mainly use properties for investment purposes should not receive tax relief akin to genuine homeowners.

President Yoon reiterated the approaching deadline for the exemption of the heavy taxation on multiple homeowners, which will end on May 9. He stated that maintaining the credibility of the government is essential, arguing that allowing those who have withheld properties to benefit more than those who sell beforehand would lead to public distrust. Yoon illustrated this point by warning that failing to implement effective policies before May 9 would risk the reputation of his administration and could destabilize the housing market significantly.

As he laid out his vision for the future of real estate policy, Yoon asserted that his government would guide the market in such a way that, after May 9, multi-homeowners who sell their properties would find it more beneficial than retaining them. This would involve the introduction of strong financial, tax, and regulatory policies designed to discourage speculative holding and ensure that the market functions more transparently and favorably for genuine homebuyers. Yoon's administration aims for a reformed approach that balances investor interests with those of legitimate homeowners, aiming for market stability by addressing both taxation and regulatory measures effectively.

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