The Democratic Party and the People Power Party are actively voicing their positions on real estate policies, particularly among lawmakers from the capital region. With the general election approaching in about 17 months, both parties recognize that public sentiment in the capital area is heavily influenced by real estate issues.
The Democratic Party's 'Real Estate Pragmatism Group for Stabilizing Rent' held a policy discussion on November 11 at the National Assembly, where they heard suggestions from Professor Ma Gang-rae of Chung-Ang University. On the same day, the People Power Party and the Reform Party's 'Capital Region Housing Innovation Forum' hosted a seminar featuring former Deputy Prime Minister Choi Kyung-hwan as a speaker.
During the discussion, Democratic Party lawmaker Lee An-joo emphasized, "While it is important to control housing prices in specific areas, the focus should be on stabilizing housing for the middle class and low-income individuals, particularly for those without homes." He added, "We aim to consider issues related to actual residents versus non-residents, taxes, and loans through comprehensive analysis and discussions."
Lee also noted, "It is important to communicate with the party leadership, the Blue House, and the government, and while not all views align, I believe we should engage in vigorous debate over differing opinions. I hope this will serve as an opportunity to address issues productively by incorporating diverse voices within the party." However, it was reported that the discussion did not prominently feature the proposals previously advocated by Seoul lawmakers regarding increasing the basic deduction for the comprehensive real estate tax for non-resident homeowners.
At the Capital Region Housing Innovation Forum, calls for a comprehensive shift in real estate policy were prevalent, emphasizing that "there is no government that can outsmart the market." Co-chairman Jo Jeong-hoon of the People Power Party criticized the current situation, stating, "The government claims the legitimacy of regulations while the ruling party worries about their adverse effects. How will we take responsibility for this irresponsible reality where the government creates policies, citizens bear the burdens, and the ruling party questions the problems only after the fact?"
Co-chairman Lee Jun-seok of the Reform Party remarked, "Even within the Democratic Party, lawmakers from the capital region are beginning to voice opinions that differ from the president's line. I believe that at some point, lawmakers from both the People Power Party and the Reform Party will join in, and I propose bipartisan cooperation."
Political analysts suggest that the increasing focus of capital region lawmakers on real estate policies is a response to the upcoming general election. Historically, the capital region has been a battleground in elections, and it is widely believed that real estate issues will significantly influence public sentiment in the upcoming vote. As a result, ongoing debates between the ruling and opposition parties regarding real estate matters are expected to continue in the capital region.
* This article has been translated by AI.
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