An Cheol-soo, a member of the People Power Party, recently commented on social media about President Lee Jae-myung’s real estate policy, suggesting that if owning multiple homes is the problem, the comprehensive real estate tax for single-home owners should be abolished. He expressed that President Lee had been inciting animosity against those owning multiple homes over the holiday through social media and criticized Lee for targeting opposition party representatives with negative terms like speculation, privilege, and immorality.
An Cheol-soo argues that if the number of homes owned is considered the problem and those with multiple homes are said to be taking away opportunities from those without, then those maintaining just one home should be seen as patriots, providing real demanders with the chance to own homes. Therefore, he believes the comprehensive real estate tax for single-home owners should be abolished. He claims it is discriminatory for these individuals to still pay property and comprehensive real estate taxes simply because they own one high-priced home in a specific region.
Furthermore, An suggests that eliminating the comprehensive real estate tax for single-home owners might encourage those with multiple homes to sell their additional properties. He notes that in May 2024, Democratic Party representatives Chan-dae Park and Min-jung Ko also emphasized the need to abolish this tax for single-home owners, indicating there is already a consensus within the ruling party, reducing the likelihood of turning it into a political dispute.
An concluded by stating that while one could argue, as President Lee does, that those with more homes should pay more taxes, it is not fair to impose additional taxes on those who only own a single home for residence, merely because it’s a high-value property. He regards such taxation not as a levy but as a penalty.