In a post on his Facebook account, Jang remarked, "Gangnam, which he despises, has dropped, so is Lee Jae-myung smiling?"
He warned that with the capital gains tax on real estate starting today, prices will continue to rise, noting, "Everyone is pulling their properties off the market." He added, "The rental market has already reached its limit. Jeonse (long-term lease) options are drying up, and monthly rents have increased by tens of thousands of won compared to last year." He predicted that once the elections are over, property taxes will increase, and the long-term holding tax exemption will be abolished, stating, "A true hell awaits us."
Jang also criticized Lee Jae-myung's insistence on 'normalizing the real estate market,' saying, "The mindset that believes this is normal is abnormal." He questioned whether the apartment owned by President Lee in Bundang would ever be sold, asking, "Is it just going to be advertised without actually selling?"
Choi Bo-yoon, the party's chief spokesperson, also commented, stating, "The feared housing supply lockdown is becoming a reality," and noted that the temporary increase in urgent sales before the tax deadline was not a result of policy effectiveness but rather an attempt to avoid a tax burden.
Choi emphasized, "The consequences of the tax-centric policies of the Lee Jae-myung administration are clear. Citizens who own homes are burdened by punitive taxes, while those without homes are pushed out by skyrocketing rents. Sellers face tax barriers, and young people and newlyweds looking to buy homes are frustrated by loan regulations."
She further criticized the government for considering reducing long-term holding tax exemptions and stripping benefits from rental property owners, stating, "The government is shaking the market with taxes, and when the market doesn't respond as they wish, they intend to suppress it with even harsher taxes."
Choi concluded by asserting that what is needed now is the repeal of punitive taxes that block exit routes and decisive action to eliminate regulations on reconstruction and redevelopment to allow quality housing to be supplied where the market demands. She urged the Lee Jae-myung administration to recognize the failures of past governments that tried to control the market through taxation.
* This article has been translated by AI.
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