Approval for the Lee Jae-myung government's property policy has halved from 51% to 26% in four months. Disapproval was most pronounced in Seoul by region and among people in their 20s and 30s by age group.
In a Gallup Korea survey of 1,005 voters conducted from June 30 to July 2, 26% said the government was "doing well" on property policy, while 46% said it was "doing poorly." In the March survey, positive assessments had risen to 51%, the highest since 2013, but the figure has returned to its low point within four months.
By age, distrust of the government's property policy was greatest among people in their 20s and 30s, and by region, in Seoul. Among those in their 20s and 30s, "doing poorly" responses reached 51% and 56% respectively, exceeding half. Among those in their 50s, "doing well" responses stood at 36%, the only age group in which positive assessments led slightly within the margin of error.
In Seoul, "doing poorly" stood at 59% and "doing well" at 19%, with negative assessments more than triple the positive ones. The most cited reason for a negative assessment of property policy was "failure to curb rising home prices" at 21%. This was followed by "loan limit restrictions" (10%) and "excessive regulation" (8%). For home price forecasts over the next year, "rise" and "fall" predictions were recorded at 55% and 14% respectively.
Regarding the jeonse system (a Korean lease system requiring a large lump-sum deposit instead of monthly rent), 54% answered that it "has more advantages and remains necessary in the future." Gallup analyzed that "home prices and rents are surging, mainly in the greater Seoul area, and the shift from jeonse to monthly rent is pronounced," adding that "while the president recently expressed the view that expanding jeonse loan regulations and long-term system changes are inevitable, public opinion does not want jeonse to disappear."
The survey was conducted using computer-assisted telephone interviewing (CATI) with virtual numbers for randomly selected mobile phones. The response rate was 10.2%, and the margin of error was ±3.1 percentage points at a 95% confidence level. For details, refer to the National Election Survey Deliberation Commission or the Gallup Korea website.
