Hong earlier warned of potential adjustments in housing prices, saying that the government has a strong commitment to curbing high-flying home prices.
The minister also said the government plans to soon come up with measures to help ordinary people and first-time homebuyers find homes, including an expansion of state-backed lending programs.
The government has unleashed a series of comprehensive measures to stem rising home prices, but the regulations have resulted in only a short-term letup in rising housing prices.
In February, the country unveiled a plan to increase the number of new homes by up to 836,000 nationwide in the next four years.
SEOUL, June 17 (Yonhap) — South Korea’s top economic policymaker said Thursday the government will focus on increasing the housing supply in a bid to curb market expectations for continued rises in home prices.
Finance Minister Hong Nam-ki said the supply of homes is expected to increase after 2022 as the construction of new properties has increased since May.
Amid sluggish housing transactions, the growth of home prices has picked up in recent months in Seoul on expectations for eased rules on the reconstruction of old apartments in the capital.
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