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Gov't to unveil more measures to curb housing prices, if needed: official

Economy 16:19 January 20, 2019

SEOUL, Jan. 20 (Yonhap) -- The government will come up with additional measures to curb housing prices without delay if any sign of instability in the property market is detected, President Moon Jae-in's chief policy adviser said Sunday.

Home prices have stabilized since the government announced in September that it would impose tougher taxes on the owners of high-value houses, and multiple homes, and increase housing supply in Seoul and its surrounding areas.

Kim Soo-hyun, the presidential chief of staff for policy, said that though the government believes that steep increases in housing prices are easing, it will be vigilant against any possible instability.

"If there are signs of instability, the government will draw up additional measures without delay," Kim told a press conference. "We will continue to push to stabilize housing prices and expand welfare linked to housing."

He said that the current level of stability in home prices is not what the government ultimately hopes for.

"Housing prices are still too high for ordinary people (to buy houses) with their income," he added.

This photo, taken on Jan. 20, 2019, shows Kim Soo-hyun, the presidential chief of staff for policy, speaking to reporters about the economy. (Yonhap)

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