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“Since the Moon administration took office, apartment prices in Seoul have doubled… It took 38 years to buy my own house”

[서울=뉴스핌] Reporter Choi Hyun-min = Since the inauguration of the Moon Jae-in government, a civic group has argued that the price of an apartment in Seoul (3.3 m²) has more than doubled, and that the period to buy a house has also increased.

The Citizens’ Federation for Economic Justice (Gyeongsilyeon) held a press conference at the Gyeongsilyeon Auditorium in Jongno-gu, Seoul on the 8th and announced the results of analyzing market price changes for 75 apartment complexes and 115,000 households in 25 districts in Seoul from 2017 to November 2021. did.

[서울=뉴스핌] Reporter Choi Hyun-min = Citizens’ Coalition for Economic Justice (Gyeongsilyeon) holds a press conference at the Gyeongsilyeon Auditorium in Jongno-gu, Seoul on the 8th. [사진=경실련] 2021.12.08 [email protected]

According to the Korea Economic Research Institute, the average price of an apartment in Seoul in May 2017, when the Moon Jae-in administration took office, was 20.61 million won per pyeong. However, four years later, it has risen by 22.48 million won to reach 43.09 million won per pyeong. The 30 pyeong apartment valued at 620 million won soared to 1.29 billion won in four years.

“The increase in house prices has been greater since President Moon said in January last year that house prices should be restored to their pre-inauguration level in May 2017,” the Korea Federation of Economy and Industry said in a statement. The increase was 10,000 won, but in the 22 months since the remark, it rose by 350 million won more.”

The Gyeongsilren analyzed that as apartment prices rose, the period of buying a house more than doubled.

The Gyeongsilren said, “At the beginning of the Moon Jae-in administration’s term of office, a 30-pyeong apartment was 620 million won, and if the average worker’s annual salary of 30.96 million won had been saved without spending a single penny, it would have taken 20 years to buy a house.” But in November 2021 The standard apartment price is 1.29 billion won, and the average annual salary for workers (34.44 million won) should be saved without spending a single penny for 38 years.”

“After the Daejang-dong incident, all the people are demanding real estate reform, and the result is that house prices return to the level at the beginning of their inauguration,” he said. We need to be proactive in resolving it,” he added.

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