South Korea's President Lee said on social media the housing-market “only rises” myth must be broken. He warned that if prices fall sharply the government is preparing measures including large-scale home purchases to convert into public rental housing. The administration has been curbing household loan growth and tightening mortgage lending, which it says limits the risk of financial-market turbulence from price swings. Recent Seoul price gains largely reflect steep cuts to building permits by l

South Korea's President Lee said on social media the housing-market “only rises” myth must be broken. He warned that if prices fall sharply the government is preparing measures including large-scale home purchases to convert into public rental housing. The administration has been curbing household loan growth and tightening mortgage lending, which it says limits the risk of financial-market turbulence from price swings. Recent Seoul price gains largely reflect steep cuts to building permits by local governments since 2022; permits have normalised and supply shortages should ease by around 2028.