'Can you hold out 7-8 years without buying?' Kim In-man weighs in [Real Estate 360]

"Should you hold off on buying a home?" — Kim In-man answers | 360 Interview

Ten days after announcing a tax reform plan targeting ultra-high-priced and non-owner-occupied homes on Aug. 3, the government on Thursday released a housing supply package centered on building more than 230,000 units across the Greater Seoul area. With the government signaling a push to accelerate supply, attention is turning to whether the measures can rein in rising home prices in Seoul and the surrounding metropolitan area.

Kim In-man, director of the Kim In-man Real Estate Economic Research Institute, said the plan reflected "the government's will to increase supply," but added a note of caution. "A significant portion of the announced supply is targeting ground-breaking in 2029," he said. "Even accounting for the minimum construction period, move-in would not be possible until 2033, so there are limits to how quickly this can bring home prices under control."

On the jeonse and monthly rent market, Kim said short-term stability would be difficult given a shortage of move-in units and owner-occupancy requirements placed on landlords. "Considering that it will take years for the government's supply measures to materialize, we are heading into a market where home sales prices, jeonse and monthly rent all rise together — a triple surge," he said.

Kim also offered candid analysis on the best timing to buy a home, price outlooks across different market segments, and the likelihood of distressed listings coming to market. His full assessment is available in the video above. A more in-depth discussion can be heard in person at Herald Money Festa, to be held Oct. 2-3 at Dongdaemun Design Plaza in Seoul.