The government is also in ‘emergency’ due to housing price instability… Countdown to additional supply, tax, and financial measures
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As housing prices in the metropolitan area rise steeply, the government is speeding up the preparation of additional real estate measures encompassing supply, taxation, and finance.
As housing prices in the metropolitan area rise steeply, the government is speeding up the preparation of additional real estate measures encompassing supply, taxation, and finance. Amid the sense of crisis that the rising housing prices may continue for a while, attention is focused on whether 'special measures' will be taken. According to the political circles on the 8th, Kim Yong-beom, head of the Blue House policy office, emphasized 'shut up and supply' at the government debate on the 24th of last month, and also said on the 6th, "Real estate prices are unusual. We urgently need to find a solution." It appears that even within the government, it is seriously aware of the surge in housing prices in the metropolitan area. The actual rise in housing prices is distinct According to the Korea Real Estate Agency, from January to the fifth week of June this year, apartment prices in Seoul jumped 5.11%, and in the metropolitan area as a whole, they rose 3.21%. Jeonse prices also rose by 5.10% during the same period in Seoul, showing that both the sales and jeonse markets are experiencing anxiety. The government believes that market liquidity is adding to the accumulated supply shortage, driving up housing prices. In particular, funds released through performance bonuses and internal loans from Samsung Electronics and SK Hynix are floating.
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