[Edaily Reporter Ham Ji-Hyun ] As rumors circulated that the government would announce housing market regulatory measures this month, the government once again denied the claims, calling them baseless. However, the market still appears unable to shake off its doubts.

On the 6th, an official from the Ministry of Land, Infrastructure and Transport dismissed as “completely untrue” reports that the government would announce additional housing market measures this month, including a reduction in loan limits. Furthermore, the official stated, “The information currently circulating online regarding real estate measures is not true. We have already referred posts with similar content to law enforcement in February, June, and October of this year on charges including obstruction of official duties through fraud, and investigations are ongoing.” The official added, “The government plans to request additional investigations into this latest round of misinformation as well. We intend to respond forcefully should similar incidents occur in the future.”

Earlier, Lee Eun-won, Chairman of the Financial Services Commission, also drew a clear line on his social media, stating, “The claims currently circulating online to the effect that ‘mortgage loan limits based on housing prices will be further reduced’ are completely untrue.” He emphasized, “The Financial Services Commission has consistently responded strictly to the dissemination of false information that undermines sound market order,” adding, “We are taking necessary measures, including referring this case for investigation, and plan to respond strictly should similar incidents occur in the future.”

On that day, a rumor spread primarily on social media claiming that the government would introduce a land transaction permit system in areas such as Bucheon around mid-November and impose a complete ban on loans for apartments valued at over 2.5 billion won. In particular, the rumor even claimed that the LTV (loan-to-value) limit for first-time homebuyer mortgages in regulated areas would be reduced from 70% to 40%.

The government is implementing loan regulations with the goals of managing household debt and stabilizing the real estate market. Depending on the market value of the home, the loan limits are set at 200 million won for properties valued at over 2.5 billion won, 400 million won for those valued between 1.5 billion and 2.5 billion won, and 600 million won for those valued at 1.5 billion won or less. However, some observers note that, regardless of the policy objectives, these measures are acting as barriers that limit home-buying opportunities for genuine buyers.

Amid this situation, sensitive rumors about further loan restrictions show no signs of subsiding. Previously, Lee Seong-hoon, President of the Korea Land and Housing Corporation (LH), fueled the controversy by arguing that the 600 million won limit on mortgage loans for homes priced at 1.5 billion won or less needed to be further reduced. Although he emphasized that this was his personal opinion, suspicions arose that he might have broached the subject—which falls outside his purview—because such moves are actually underway within the government.

Some observers point out that there have been cases in the past where officials initially denied rumors as groundless, only for them to eventually lead to actual regulations.

In fact, on June 26—the day before the June 27 measures were announced last year with the aim of curbing speculative loan demand—reports emerged that the government would expand regulated zones in areas of Seoul experiencing sharp housing price increases and tighten lending restrictions. In response, the Ministry of Land, Infrastructure and Transport refuted the reports, stating, “The reports regarding the announcement of housing market stabilization measures are not true,” and added, “The claims that the government will expand regulated zones early next month, announce comprehensive measures centered on finance and taxation, and hold a meeting of the Housing Policy Deliberation Committee next week are not true.”

However, the government ultimately announced high-intensity loan restrictions the following day under the title “Measures to Strengthen Household Debt Management,” focusing on the Seoul metropolitan area. While the clarification statement did not explicitly state that loan restrictions would not be implemented, and while the comprehensive measures centered on finance and taxation may differ in nature from the actual “household debt management measures” announced, from a broader perspective, the tightening of regulations that the market had anticipated has effectively materialized.

Experts’ assessments of this situation are mixed. One anonymous expert pointed out, “It is common to float trial balloons before implementing policies to gauge public sentiment,” adding, “I believe this is also part of such an attempt.” Conversely, another real estate expert assessed, “Looking at the recently announced public housing sites and other measures, the government appears determined to steadily carry out its core responsibilities, but it seems that some influencers are stoking the flames.” They continued, “Since public sentiment toward real estate has shifted significantly, there is no reason for the government to appear erratic while implementing policies. The policy will not be swayed by voices from certain quarters.”