Civil society organizations surveyed that during the presidency of President Moon Jae-in, the rate of increase in apartment prices was twice the rate of the governments of the Lee Myung-bak and Park Geun-hye governments.
The Citizens' Federation for Economic Justice (Gyeongsilyeon) held a press conference at the Gyeongsilryang Auditorium in Dongsung-dong, Jongno-gu, Seoul on the 23rd. It has skyrocketed by ten thousand won (52%)."
As a result, the Lee Myung-bak administration (December 2008 to February 2013) fell 15 million won (-3%), and the Park Geun-hye government (February 2013 to March 2017) was 133 million won ( 29%), rising 26% across both regimes.
It was estimated that the unpaid income resulting from changes in apartment prices in Seoul was about 155 trillion won and 493 trillion won, respectively, from the Park Geun-hye government and the Moon Jae-in government.
During the Lee Myung-bak administration, about 35 trillion won decreased.
The median rate of rise in median apartments across the country was 6% during the Lee Myung-bak administration, 27% by the Park Geun-hye government, and 20% by the Moon Jae-in government.
“The Moon Jae-in government raised the minimum wage the most over the past three years, advocating for income-driven growth, but the time it took to buy an apartment with the minimum wage increased because Seoul's apartment price increased by more than 300 million won.”
In particular, it was analyzed that it was much more difficult for the low-income households to purchase apartments in Seoul than the former government.
Based on the provisional disposable income announced by the National Statistical Office in the fourth quarter of last year, the time it took for the lowest-income quintile household to purchase an apartment in Seoul increased from 31 years at the beginning of the Moon Jae-in government to 72 at the end of last year, 31 years.
In the Lee Myung-bak administration, it has decreased from 48 years at the beginning of the term to 35 years at the end of the term, and the Park Geun-hye government has increased six years from 35 to 41 years.
On the other hand, when the fifth highest-income households were analyzed in the same way, the time it took to purchase an apartment in Seoul was the Lee Myung-bak administration (7 years at the beginning of the term → 6 years at the end of the term), the Park Geun-hye government (6 years → 7 years), and the Moon Jae-in government (8 Year→10 years).
"The main cause of the worsening of the real estate problem is the government policy of the Moon Jae-in," he said. "If we are really willing to return the house price, we must stop the reckless large-scale development policy and provide fundamental measures."
(Photo = Provided by Gyeongseon, Yonhap News)
"Moon administration Seoul apartment price increase rate 52%…2 times as Lee Myung-bak and Park Geun-hye"
2020-06-23T05:42:20.943Z
Civil society organizations surveyed that during the presidency of President Moon Jae-in, the rate of increase in apartment prices was twice the rate of the governments of the Lee Myung-bak and Park Geun-hye governments. The Citizens' Alliance for Economic Justice held a press conference on the 23rd at the Gyeongsilyeon Auditorium in Dongsung-dong, Jongno-gu, Seoul and said, "The median price of the Seoul apartment building has risen by 340 million won per house for the past three years."
Source: sbskr