The real estate market is in chaos. It is not easy to curb soaring property prices no matter what measures are taken. When the economy grows, the money supply expands, and inflation rises, it is natural for housing prices to increase. However, excessive surges that go beyond normal appreciation eventually cause problems. Recently, especially in Seoul within the capital area, housing prices have far outpaced inflation rates, with cases of doubling within just a few years being common.
Given this situation, young people are crying out that the ladder has been cut off. Current housing prices in Seoul and some parts of the capital area are simply unaffordable for anyone saving from their monthly salary. Young people who felt frustrated by the sharp rise in housing prices have turned their attention to the stock market or cryptocurrency markets, frequently suffering huge losses and facing despair.
The government is implementing various measures to prevent a surge in housing prices. However, strong demand restrictions, including loan curbs, cannot fundamentally stop housing prices from rising. Some argue that the reason for rising housing prices is an extreme shortage of supply. But increasing supply immediately is not easy. Ultimately, the government plans to raise taxes on non-residential properties through tax reform to discourage unnecessary home purchases. Yet this too fails to offer a fundamental solution.
So why is it so difficult to control housing prices? One reason may be that people view only apartments as homes. Housing types are diverse: single-family houses, villas, apartments, and officetels. However, it seems that other types of housing are no longer visible to people. Only apartments are considered homes. The government also focuses all its policies and supply efforts solely on apartments. Especially among the younger generation, many have been born in apartments and lived only in them, so they believe only apartments are homes. They do not even consider looking at other types of houses.
To control housing prices, we must change the 'apartment paradigm.' What is needed is a rediscovery of low-rise housing areas. We must shift perceptions to recognize low-rise housing areas as places where people live. Above all, there must be a shift in the government's mindset. This means the government must make complete and proper investments even in low-rise housing areas.
The landscape of low-rise housing areas should not remain bleak with only villas devoid of even a single tree, as it is today. In the past, the appearance of low-rise housing areas was completely different. Instead of villas, houses were densely clustered, and each home was filled with trees and flowers. There was no need for separate parks. However, as houses disappeared one by one and were replaced by villas, a bleak landscape emerged where only treeless villa forests remained. Villa villages could no longer be preferred residential areas.
Under the current system, all benefits are concentrated on apartments. Recent news reports have even analyzed that while apartment complexes covered in lush forests maintained appropriate temperatures despite heatwaves, low-rise housing areas where trees had disappeared saw temperatures soar to levels unbearable for human habitation.
Not all houses need to be apartments. When formulating development plans, we must start by including plans for low-rise housing areas and transform them into livable environments. Instead of developing only with apartments, we should also pursue developments that turn low-rise housing areas into dignified lifestyle complexes with unique landscapes. We must plant trees and flowers to create small parks, build small libraries, and establish small community facilities so people can rest. Only then will low-rise housing areas be recognized as livable spaces. If they are perceived as sanctuaries of life that meet diverse needs, why would young people dislike or avoid them?
The answer does not lie solely in apartments. Not everyone wants to live only in apartments. Let us develop by shifting our focus to view human lives. If we change our thinking, won't the solution to housing prices also emerge?
in OPINION
