President Lee Jae-myung agreed in principle with strengthening property holding taxes at a national real estate policy debate held at the KBS annex in Yeouido, Seoul, while presenting a practical challenge of concerns about potential "riots" if taxes were tripled to developed country levels. In doing so, the president revealed his deliberation on formulating concrete measures. At this forum, President Lee suggested a new direction for overall real estate policy, including the clear necessity for differential treatment of multi-property owners for asset appreciation purposes, the possibility of linkage with capital gains taxes, and conversion to high-quality public rental housing.

President Lee Jae-myung stated at the debate that he "generally agrees" with the necessity of strengthening property holding taxes, forming a consensus on its necessity. However, he emphasized that "how much and what scope" was important, remaining vigilant about indiscriminate increases. In particular, President Lee strongly warned that "if we raise it threefold to developed country levels, situations similar to riots could occur," expressing deep concerns about tax resistance. This statement is interpreted as one that considers realistic public burden and policy acceptability.

President Lee stressed that while protecting single-property owners for residential stability, clear differential policies for multi-property owners whose purpose is solely asset appreciation are necessary. This reveals the government's strong will to suppress speculative demand in the housing market and protect actual homebuyers. He explained, "We protect single-property owners, but multi-property owners require a different policy approach," suggesting that the focus of property holding tax reform will be directed at multi-property owners.

[사진=연합뉴스]

Furthermore, President Lee took a forward-looking stance toward a proposal presented by an attendee to "recognize the increase in property holding taxes as a necessary expense when calculating capital gains taxes," saying "it seems like a reasonable point" and "it would be worth considering." This is an incentive measure that can alleviate the phenomenon of property listings being withheld due to increased property holding tax burdens and mitigate tax resistance, and is expected to serve as an important variable in the future tax reform process. With the president's direct mention, in-depth discussions on the measure are expected to begin.

A fundamental change in supply policy direction has also been signaled. President Lee stated that the direction of public rental housing will shift from the past focus on small units of "8 pyeong, 12 pyeong" to construction of "high-quality apartments centered around transit stations that allow middle-class residents to move in." This is interpreted as a will to improve negative perceptions of public rental housing and promote residential stability for broader segments of society. The policy objective to strengthen the housing ladder through the supply of quality public rental housing has been clearly presented.

President Lee's remarks this time suggest that the government is seeking fundamental reforms in property holding tax restructuring and supply policy in line with rapidly changing real estate market conditions. The government's deliberation on ensuring fairness while minimizing tax resistance is expected to deepen, and attention is being paid to how specific policy directions will be established going forward.