Opposition leader Lee Jae-myung has criticized the classification of 42,500 Seoul apartments as mid-range, arguing they do not truly fit that category. He urged the government to prioritize targeted support for major investors in these projects to ensure market stability.
Response on Social Media
In a recent X post, Lee amplified a message stating that even if apartment operators acquire these units, property values will stabilize due to broader business factors. He challenged the original claim, pointing out its assertion that mid-range apartments represent 16% of total supply (107,732 units), with exactly 42,500 located in Seoul.
Lee directly contested this view, emphasizing that the current supply dynamics differ. “Supplying 42,500 apartments to major shareholders without clear purpose does not diminish their worth,” he stated. “If all mid-range units sell out without becoming flops for these investors, property value stabilization is not inevitable.”
Call for Comprehensive Measures
Lee highlighted that nationwide mid-range apartment initiatives have not reduced concentration in Seoul, limiting public support. He called for strategies addressing investor returns and external market influences to foster balanced growth.
While some advocate exposing tactics behind supply focus and partnerships, Lee attributed much of the issue to policy failures. “Concentration on mid-range units stems primarily from flawed policies,” he noted. “Even after time without proper context, critiques continue, and buyers favoring larger apartments have valid reasons.”
