President Lee Accuses Politicians of Fueling Real‑Estate Speculation Ahead of Tax Deadline
Updated (2 articles)
Lee Shifts Blame From Owners to Policy Makers On February 18, 2026 President Lee Jae Myung posted on X that politicians, not multiple‑home owners, are the “real ills” driving speculative buying, arguing that a flawed housing framework lets owners profit without burden [1]. He asserted that officials created and sustained policies encouraging speculation and even profiting from it [1]. Lee also urged owners to sell their extra properties before the heavy capital‑gains tax exemption expires in May [1].
Jang Dong‑hyeok Criticizes Lee’s Social Media Attack Lee amplified the controversy by retweeting People Power Party leader Rep. Jang Dong‑hyeok’s criticism, which accused Lee of stigmatizing multiple‑home owners and called his comments “pathetic” [1]. Jang had previously blamed Lee for unfairly targeting owners rather than addressing systemic issues [1]. The exchange highlights partisan tension over housing policy and the upcoming tax deadline [1].
Tax Incentive Expiration Sets Immediate Market Pressure The capital‑gains tax exemption for owners of multiple homes is set to end in May 2026, creating urgency for sellers [1]. Lee’s call for owners to dispose of properties before the deadline aims to curb speculation and stabilize prices [1]. Analysts note that the looming tax change could intensify market activity and influence future policy debates [1].
Timeline
Early 2026 – The government ends a temporary suspension of higher capital‑gains taxes on owners of multiple homes, a policy shift that removes a tax break and signals a tougher stance on speculative property holdings[2].
Feb 2, 2026 – President Lee Jae Myung posts on X rejecting the People Power Party’s criticism of his housing‑supply plan, calling the opposition’s remarks “unfounded” and reaffirming his commitment to curb market overheating[2].
Feb 2, 2026 – People Power Party spokesperson Choi Bo‑yun accuses the housing‑supply plan of “rationing” real estate, arguing it blocks needed solutions and misuses idle land[2].
Feb 2, 2026 – Lee challenges supporters of speculation on X, writing, “What about stopping support for real estate speculation that could ruin the country?” to frame the issue as a national risk[2].
Feb 2, 2026 – A luxury unit in a southern Seoul apartment complex is listed for urgent sale at a reduced price after the tax‑policy shift, illustrating immediate market response to the end of the tax suspension[2].
Feb 18, 2026 – Lee posts on X that politicians, not multiple‑home owners, are the “real ills” of society, blaming policy makers for creating a system that encourages speculative buying and profit‑seeking[1].
Feb 18, 2026 – Lee retweets People Power Party leader Rep. Jang Dong‑hyeok’s criticism of his stance, highlighting intra‑party tension over the housing debate[1].
Feb 18, 2026 – Lee argues that responsibility for the housing crisis lies with those who designed a flawed framework allowing owners to exploit multiple properties, rather than with the owners themselves[1].
Feb 18, 2026 – Lee alleges that politicians have encouraged and even profited from speculation, claiming officials failed to make multiple‑home ownership a burden and instead fostered the market excesses[1].
Feb 18, 2026 – Lee urges multiple‑home owners to sell before the heavy capital‑gains tax exemption expires in May 2026, warning that the deadline will end a key tax break for speculators[1].