The Blue House recently confirmed that President Lee Jae-myung has completed the sale of his home in Bundang, Seongnam, for 2.9 billion won, which is below market value.
On July 20, the Blue House stated, "There is no obligation to sell as a one-home owner, but this action demonstrates a commitment to the normalization of the real estate market."
Regarding the mortgage registered at 1.77 billion won during the sale process, they explained, "The registered details are due to the buyer's circumstances."
The apartment in Yangji Village, Su-nae-dong, Seongnam, owned by President Lee and First Lady Kim Hye-kyung, was contracted for sale on July 14 and ownership was transferred on July 16. It is reported that the sellers established a mortgage of 1.77 billion won for the buyer.
As a result, President Lee effectively holds a claim for that amount until the buyer completes the payment, which is expected to occur by October.
Previously, President Lee had listed the apartment for sale following the announcement of regulations for non-resident homeowners.
* This article has been translated by AI.
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