Lee: "The earlier you sell, the better" as Gangnam listings rise, urges owners to put homes on market

[The Financial News] President Lee Jae-myung on the 3rd again urged multi-homeowners to sell, writing on his social networking service (SNS), "Selling is better than holding out, and selling early will be more advantageous than selling later."
On X (formerly Twitter), President Lee shared a The Financial News article titled "Burden from heavier capital gains tax... More listings in Gangnam" and attached this message.
The article reported that as the burden from heavier Capital Gains Tax grows, the number of apartment listings is increasing, particularly in the Gangnam 3 Districts of Seoul and in the Han River Belt area. According to the report, apartment listings in the Gangnam 3 Districts—Gangnam District in Seoul, Seocho District and Songpa District—have posted double-digit growth in just one month this year, and a similar rise has been seen in the so-called Han River Belt, including Gwangjin District and Seongdong District.
Cheong Wa Dae has repeatedly confirmed its plan to end the temporary suspension of heavier capital gains tax for multi-homeowners on May 9. President Lee's remark that "selling early is more advantageous" is widely seen as a renewed reminder of this end date.
Earlier, in a separate post, President Lee asked, "To those who feel sorry for the tears of the hundreds of thousands of multi-homeowners who sought unearned income through real estate speculation, I ask you this," and then questioned, "Can you not see the suffering of the millions of young people who give up on marriage and childbirth because of high housing costs?" He went on to declare, "We will, by any means necessary, put an end to this ruinous real estate speculation," reiterating his determination.
He added, "My pledge-fulfillment rate is around 95%," stressing, "As the President of South Korea who holds the final authority, I have no reason to make empty promises." He also wrote, "If we stop weighing short-term political gains and losses, there are plenty of policy tools we can use," and warned, "This is the last chance to get out."
west@fnnews.com Seong Seok-woo Reporter