Politics · South Korea · 7 hrs ago
LH chief warns home prices could fall and says buyers need not rush
Lee Seong-hoon, head of South Korea’s Korea Land and Housing Corporation, said home prices could fall significantly.
He spoke on October 12 at a parliamentary audit in Seoul.
Lee cited increased housing supply and high interest rates as reasons prices might stop rising and decline.
He said buyers would not lose out by waiting if the market became stable.
Lee was defending his earlier view that mortgage lending rules should be tighter.
A lawmaker from the ruling Democratic Party said suppressing housing demand was not an appropriate position for the LH chief to take.
Korea Land and Housing Corporation (LH) President Lee Seong-hoon said home prices could fall significantly, so buyers need not rush to purchase.
He cited increased housing supply and rising interest rates as reasons prices might decline.
Lee made the remarks on October 12 during a parliamentary audit in Seoul, defending his view that mortgage lending rules should be strengthened.
Democratic Party lawmaker Jeong Il-young criticized him, saying suppressing housing demand was not something an LH president should say.
Lee also said LH could meet its public housing construction-start target for the year.
- Who
- LH President Lee Seong-hoon made the remarks. Democratic Party lawmaker Jeong Il-young criticized them.
- What
- Lee said home prices could fall and buyers would not lose out by waiting to buy.
- When
- October 12, 2026.
- Where
- At a parliamentary audit in Seoul.
- Why
- Lee cited expanded housing supply and higher interest rates as reasons prices might fall.
Lee Seong-hoon
Jeong Il-young
Housing market
Lee Seong-hoon
Lee said increased supply and high interest rates could cause prices to fall, so buyers need not rush.
Jeong Il-young
Jeong said suppressing demand was not something an LH president should say.
Mortgage rules
Lee Seong-hoon
Lee said he still supported strengthening lending restrictions.
Jeong Il-young
Jeong criticized Lee’s comments about restraining demand.
There is quite a high possibility that home prices will fall sharply.
If home prices keep rising, people would have to compete to buy homes, but if prices stabilize, you will not lose out by not buying a home right now.
Suppressing demand is not something the LH president should say.
At a press briefing, Lee said mortgage lending for apartments priced at 1.5 billion won or less was less restricted than in the past.
At a parliamentary audit, Lee defended his support for tighter lending rules and said home prices could fall.
Lee said LH could meet its annual construction-start target, with many projects expected to begin in November or December.
- LH chief
- Lee Seong-hoon
- Audit date
- October 12, 2026
- LH public housing construction-start target
- 51,783 homes
- Reported starts so far
- 13,293 homes, or 25.7% of the target
- Expected start period
- November or December
Sources
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