During a real estate policy forum held on July 27, Prime Minister Han Seung-soo emphasized the need to expand mortgage supply for young homebuyers and to reduce lease loans for non-resident homeowners.
At the forum, which took place at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Kim Young-do, a senior researcher at the Korea Financial Research Institute, stated, "It is necessary to expand policy mortgage support and increase loan availability for the youth." He also noted the importance of considering the selection of actual users and prioritizing between rental and purchase demand.
Regarding lease loans, he suggested gradually reducing loans for non-resident homeowners and proposed methods such as reducing guarantees or setting annual reduction targets.
On the topic of redevelopment and reconstruction relocation loans, he indicated that some regulations should be rationalized to increase housing supply, while stressing that loans for multiple homeowners should be strictly managed. He also raised the need for differentiated financial policies that consider regional real estate markets.
In a discussion on taxation, Professor Kang Seong-hoon from Hanyang University argued that tax deductions for non-resident homeowners should be shifted from ownership deductions to residency deductions. He suggested that adjustments could be made to the basic deduction and the ratio of fair market value and tax rates for multiple homeowners.
He also proposed easing the requirements for tax deferral for single homes occupied by the elderly. Regarding capital gains tax, he recommended maintaining the current level of long-term holding special deductions for residential properties while normalizing the tax burden on non-residential properties and applying special deduction limits to high-value homes with significant capital gains.
* This article has been translated by AI.
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