Comedian Hwang Hyun-hee, known as a multi-home owner, declared he has no plans to sell any of his properties despite the government’s aggressive real estate clampdown.
Appearing on MBC’s current-affairs program PD Note, Hwang broke down the mindset of multiple-property investors. "I don’t see assets as something you just buy and sell. Real estate is for holding," he said, adding, "Once you buy property, you should hold it for at least 10 years."
Hwang previously revealed on TV that he owns apartments in Seoul’s Yongsan-gu, Seongdong-gu, and Yeongdeungpo-gu. On the latest broadcast, he avoided giving specifics on the total scale of his assets but noted, "I’m currently a registered landlord, and the profits I earn from investing are also reinvested in real estate," hinting that he owns multiple homes.
Hwang pointed to past policy experiences to explain the widespread 'holdout strategy' among multi-home owners. He emphasized that even when previous administrations raised holding taxes and strengthened capital gains taxes, many owners ultimately refused to list their properties and held on. He argued, "Most multi-home owners believe that real estate never loses. Short-term regulations can make it look like transactions freeze and prices fall, but no government has ever fully controlled the market in the long run."
Meanwhile, the government is pushing measures such as tighter mortgage limits and heavier capital gains taxes for multi-home owners. With apartment prices in key areas like Gangnam, Seocho, and Songpa recently turning downward, attention is focusing on whether the new real estate policies will have lasting impact.