Democratic Party Rebuts PPP on Home Prices, Says Market Must Stabilize

South Korea’s Democratic Party on May 10 pushed back against the People Power Party’s argument that home prices would rise further over heavier capital gains taxation on multiple-home owners. The party criticized the opposition in terms suggesting it was asking whether the PPP wanted housing prices to soar, and stressed that home prices should be stabilized. The remarks came amid a political dispute over the tax surcharge on owners of multiple homes. The Democratic Party signaled that policy debate should focus on market stability rather than claims premised on rising prices. Political arguments over real estate taxation and housing market stabilization are expected to continue. Source: yna.co.kr