According to a public opinion poll, half of ten people are in favor of a reduction in capital gains tax. As a result of Real Meter’s nationwide survey of 500 people, 50.1% responded that they accept the argument that heavy taxation on the transfer tax of many homeowners should be temporarily reduced or eliminated. They accepted the demand to raise the price of the house by easing the transfer tax. The government and the ruling party recently drew a line saying that “there is no intention to review” the reduction in the transfer tax for multi-household individuals, but the public felt that a transfer tax relief was needed.
For the current government, the rise in housing and rents to the ceiling was largely due to far from reality. The reason for the failure was to formulate a policy to win the market instead of the market wanting to. Anxiety cannot be alleviated without boldly changing anti-market property regulations and listening to market voices.
President Moon Jae-in acknowledged that property stabilization had not been successful at a New Year’s press conference on the 18th, saying he could not predict an increase in housing demand due to an increase in the number of households. He said: “We will reduce public concern about the lack of supply, in particular by clearly increasing the supply of real estate to the level expected by the market.” President Moon also said he would draw up a special delivery plan ‘before the lunar new year. However, the market is skeptical about the development of public renovations, station areas and new housing projects prepared by the Ministry of Land, Infrastructure and Transport. It is said that there are no incentives for private sector participation due to the weight of the “public initiative”. Despite the situation, the Board suddenly held the 18th press conference of the Board meeting, which was attended by all agencies related to property policy. So far, it has only looked at the state of implementation of real estate policy, and there has been no talk of a change of policy. It is questionable whether such a place would have been needed in the yard where Deputy Prime Minister Hong Nam-ki will hold a meeting of relevant ministers to inspect the real estate market every two or three weeks.
In order for the specific supply measures to “meet market expectations, the government must propose measures to address the supply gap accepted by citizens, including a reduction in the transfer tax. It must be borne in mind that it is difficult to gain confidence through policies that go against the will of the people.
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