More than 1,400 children under the age of 5 own homes, according to a report confirmed on October 16.
The total value of the properties owned by these children exceeds 230 billion won, with over 50 identified as 'young multiple property owners.'
According to data submitted by Rep. Jeon Yong-ki of the Democratic Party to the National Assembly's Land, Infrastructure and Transport Committee, there were 1,440 homeowners under the age of 5 as of 2024, with their total property assets valued at approximately 236.05 billion won.
Notably, 56 of these young owners possess two or more properties, highlighting a clear trend of wealth transfer and inheritance at a very young age.
The economic benefits from real estate ownership are substantial. According to the National Tax Service, the real estate rental income and related earnings for children under 5 reached a total of 2.74 billion won in 2024.
As young people struggle with homeownership challenges and fears of rental fraud, the significant property ownership among preschool children raises concerns about social asset disparities.
Rep. Jeon stated, "While young people are struggling to secure homes and are worried about rental fraud, some children are already owning multiple properties before even starting elementary school."
He emphasized the need to correct the structure that exacerbates wealth gaps due to real estate windfalls and to enhance policy efforts to redirect funds concentrated in real estate toward productive investments.
* This article has been translated by AI.
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