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| ▲ President Lee Jae Myung speaks during a meeting with senior aides at Cheong Wa Dae in Seoul on Feb. 12, 2026. (Pool photo) (Yonhap) |
(LEAD) Lee-real estate
(LEAD) Lee signals limiting existing loan extensions for owners of multiple homes
(ATTN: UPDATES with Lee's X message in last five paras)
By Kim Eun-jung
SEOUL, Feb. 13 (Yonhap) -- President Lee Jae Myung on Friday raised questions about whether it is fair to extend the maturity of existing loans for owners of multiple homes, hinting at possible measures to restrict such financial benefits in an effort to stabilize the property market.
Lee signaled stronger steps to curb housing prices in a message on the social media platform X amid complaints from homebuyers facing tight lending regulations when purchasing new homes in the Seoul metropolitan area.
"It seems problematic to provide financial benefits for the purchases of multiple homes for investment or speculative purposes, not for living," Lee wrote. "That is why lending regulations on owners of multiple homes are currently very strict."
Lee's remarks are widely interpreted as signaling that the government could review whether to impose limits on loan extensions for owners of multiple homes when their existing loans expire.
"Fairness is the driving force of growth in a democratic society," he said. "Like all areas of administration, finance must also be just and fair."
The government currently imposes stricter mortgage limits on home purchases in the greater Seoul area to cool the overheated real estate market. The policy has faced criticism over fairness as some owners of multiple homes are able to extend existing loans by refinancing their properties, an option not available to those seeking to purchase new homes under tightened rules.
In a separate message posted on X, Lee urged owners of multiple homes to sell their properties ahead of the planned expiration of the heavy capital gains tax breaks. The exemption is set to expire on May 9, though the government plans to grant a grace period for four to six months.
"If multiple home owners pass up this valuable opportunity of capital gains tax relief and choose to hold out successfully, it would mean the failure of the government's real estate policy aimed at curbing property speculation," Lee wrote.
He underscored the importance of the government's firm commitment and public support in the real estate initiatives, saying the housing market could become stable through regulatory measures, taxation and supply-and-demand management.
"We already know what fate awaits the nation if we leave the real estate market unchecked as it speeds toward 'lost 30 years,'" Lee said, apparently referring to Japan's prolonged economic stagnation following the collapse of the asset bubble in the 1990s.
Lee has repeatedly pledged to stabilize the housing market, arguing that rising home prices are placing heavy burdens on young people and discouraging marriage and childbirth.
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