Politics · South Korea · 2 hrs ago
Lee says home prices are falling sharply in key areas
South Korean President Lee Jae-myung said home prices are falling sharply in major areas.
At a Cabinet meeting in Seoul, he said apartment listings in Seoul are rising while sales are falling.
He said actual sale prices have declined in key areas, though not everywhere.
Lee said the future of the housing market is uncertain, but described housing prices in South Korea as unusually high.
He argued that some people who benefit from rising prices are using data selectively to shape public views.
He called on the government to make objective housing data clear to the public.
Lee also said South Korea needs to move beyond property speculation, but gave no specific timetable for the government’s next steps.
President Lee Jae-myung said actual home sale prices in major areas are continuing to fall, calling the decline surprising.
He said apartment listings in Seoul are rising rapidly while transaction volumes are dropping rapidly.
Lee called for the government to make objective data on the housing market available to the public.
He said housing prices in South Korea are abnormally high and the country should shed its reputation as a “real-estate speculation republic.”
- Who
- President Lee Jae-myung.
- What
- He said actual sale prices in major areas are falling sharply, while Seoul apartment listings are increasing and transaction volumes are declining.
- When
- November 3, 2026.
- Where
- At a cabinet meeting at the Blue House in Seoul.
- Why
- He said the government should explain objective housing-market data to the public because some parties that benefit from rising prices were using selected data to push one direction.
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- Date
- November 3, 2026
- Speaker
- President Lee Jae-myung
- Location
- Blue House, Seoul
- Listings
- Seoul apartment listings are increasing rapidly, according to Lee
- Transactions
- Housing transaction volumes are declining rapidly, according to Lee
- Price trend
- Actual transaction prices in major areas are falling, according to Lee
What people are saying
주요지역의 실제거래가격도 계속 떨어지고 있다. 놀라울 정도로 떨어지고 있다
서울 지역의 아파트 매물이 급속도로 늘어나고, 거래량은 매우 급속도로 줄어들고 있다