President Lee Jae-myung shared a post on X on the 31st predicting a fall in Seoul home prices, writing that he is 'enduring for now on the hard road to normalizing the asset market.' Statistics released the same day showed Seoul apartment prices rising for a 90th straight week, though the pace has slowed.
According to Herald Business and Kukmin Ilbo, Lee shared a post on the 31st framed as an honest assessment of policy by Gangnam real estate agents. It carries the agents' view that Seoul prices will turn down if the government's current housing policy stance is maintained. Lee added that 'once the time of patience passes, we will eventually see; the People's Sovereignty Government will deliver.'
광고 문의 · 300×250Korea Real Estate Board data cited by Seoul Economic Daily show Seoul apartment sale prices up 0.09% in the week to the 26th, a 90th consecutive weekly gain. The pace has slowed for two straight weeks, from 0.16% in the second week of October and 0.13% in the third. Gangnam (-0.38%), Seocho (-0.35%) and Songpa (-0.22%) fell more steeply, while Seongbuk rose 0.39%, the biggest gain in Seoul.
Views of the government and opposition
Per Kukmin Ilbo, the Ministry of Land, Infrastructure and Transport pointed on the 18th to falling prices and fewer deals in the Gangnam area, saying some indicators in Seoul's housing market show signs of stabilizing downward. The government has repeatedly said signs of stabilization are visible. Seoul as a whole is still rising, however, so a counterargument is that the president's outlook runs ahead of market reality.
The opposition People Power Party has previously criticized Lee's real-estate social media messages, arguing that frightening people cannot bring prices down. No official response from either side to this latest post appeared in the articles reviewed, and whether anyone in the ruling party has raised concerns about communication style was not confirmed. Lee is reported to have posted five times on social media that day.
Lee did not cite specific policy tools or price forecasts, and some read the post as a signal that he will keep the current policy line. Weekly figures, though, are hard to read as a trend after only a week or two, and regional gaps are wide, so further judgment from market experts appears necessary.