Lee signals review of buy-to-rent policy

Feb 09, 2026, 08:06 am

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President Lee Jae-myung speaks at a town hall meeting titled “Listening to Gyeongnam” at the Changwon Convention Center in Changwon on Feb. 6. / Yonhap

President Lee Jae-myung has signaled a possible overhaul of the acquisition rental housing scheme, questioning whether individuals should be allowed to amass homes simply by registering as rental operators.

In a post on social media platform X on Saturday, Lee asked for public views on whether the buy-to-rent system—under which individuals purchase existing homes and lease them out—should continue. The remarks follow his recent move to end a grace period on heavier capital gains taxes for multiple-home owners, a policy he announced in advance and has since implemented.

“If someone builds rental housing, that’s one thing,” Lee wrote. “But it is strange that merely registering as a rental business allows people to buy and stockpile homes without limit.” He added, “If one person is allowed to collect hundreds of homes, wouldn’t the market remain short of supply no matter how many tens of thousands of new units are built?”

Lee also shared a news article reporting a sharp increase in housing listings in Seoul within days, suggesting that pressure on multiple-home owners may be starting to have an effect.

The acquisition rental scheme grants tax and financing benefits to registered rental operators, effectively allowing them to legally hold multiple homes. Civic groups have long argued that the policy contributed to surging home prices by encouraging bulk purchases of existing housing, thereby squeezing supply for end users.

Lee’s comments reflect a view within the administration that acquisition rental operators are, in practice, multiple-home owners whose unrestricted buying has reduced available inventory for genuine homebuyers and fueled price increases. His latest remarks indicate that, following tighter capital gains taxation, the government may now consider scrapping or significantly revising the acquisition rental program as part of a broader effort to stabilize the housing market.

#Lee Jae-myung #housing policy #acquisition rental scheme #multiple-home owners #capital gains tax