▲ President Lee Jae Myung speaks during a town hall meeting in the southeastern city of Changwon on Feb. 6, 2026. (Yonhap)

Lee-housing prices

Lee says sales of registered rental homes in Seoul would help stabilize housing market

By Kim Eun-jung

SEOUL, Feb. 10 (Yonhap) -- President Lee Jae Myung said Tuesday the housing supply would be increased and home prices would be stabilized if owners of multiple homes sell registered rental houses in Seoul to avoid heavier tax burdens.

Lee refuted skepticism over his proposal to scrap tax breaks for registered rental homes, marking his third consecutive day of social media comments on the issue as the government steps up efforts to rein in soaring housing prices in the Seoul metropolitan area.

He shared a link to a news story on social media platform X, citing data showing that, out of a total of 717,466 units nationwide registered by individuals as rental housing as of 2024, only 42,500 apartment units were located in Seoul.

Lee stressed that the 42,500 apartment units in Seoul "are not a small amount at all."

He added that if owners of multiple homes put these units up for sale to avoid heavier capital gains taxes, the move would help stabilize the housing market.

On Monday, Lee said it was unfair for registered rental landlords who own and rent out multiple homes for profit to continue receiving generous tax breaks, especially as other owners of multiple homes are set to face heavier capital gains taxes once a temporary exemption expires in May.

Registered rental homes are subject to caps on rent increases and guarantee tenants a minimum rental period. While tax incentives for the system were expanded in 2017, the apartment rental and short-term rental schemes were scrapped in 2020 amid criticism that they were being used as tax-avoidance tools by owners of multiple homes.

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