President Yoon: "Loan regulations are just a taste… More real estate policies are prepared"

President Yoon Jae-myung stated during a press conference marking one month since his inauguration that the recently announced loan regulations are merely a 'taste' of what's to come.

At the event titled '30 Days of the President: The Press Asks, The People Get Answers,' held at the Blue House's State Guesthouse on the morning of the 3rd, President Yoon emphasized that there are numerous additional policies prepared for stabilizing the real estate market.

President Yoon mentioned, "There are still a tremendous number of supply expansion and demand suppression policies related to real estate," and suggested various ways to supply housing.

He expressed his commitment to accelerating the progress of already planned projects, stating, "There are still many new towns that are already planned."

Emphasis on expanding housing supply and shifting the investment paradigm

President Yoon confidently remarked that "if supply picks up sufficiently, there will be no situation to worry about," mentioning various supply expansion methods, including not only new land development but also the recycling of existing land.

He especially highlighted that beyond loan regulations, "more fundamental demand suppression measures" are being prepared.

Emphasizing the importance of real estate policies, President Yoon forecasted that the future of the Republic of Korea will be greatly influenced by real estate policies.

He pointed out that speculative demand is disturbing the real estate market, especially mentioning the limited land area and increasing concentration in the capital region.

He further stated, "I believe it is much better to shift investments from real estate to the financial market," expressing his intention to induce a shift in the investment paradigm.

Additionally, he presented a long-term vision to firmly promote regional balanced development policies to address the issues of population decline in rural areas and overcrowding in the capital region.

Image source: News1, material photo for understanding of the article / Photo=Insight