Housing Price Stability Debate Deepens as DP Criticizes PPP Tax Claim

South Korea’s Democratic Party said on May 10 that it opposed the People Power Party’s argument that housing prices would rise further over the capital gains tax surcharge on multiple-home owners. The DP criticized the PPP in terms suggesting it was asking whether the party wanted home prices to soar, and stressed that housing prices should be stabilized. The exchange came amid a broader political dispute over real estate tax policy for multiple-home owners. The DP took issue with the PPP’s claim, saying the focus should be on price stability, while the PPP linked the tax measure to possible housing price increases. Housing taxation and price stabilization are expected to remain key political issues. Source: yna.co.kr.