다주택자에 의한 투기의 원인과 대책에 관한 연구

Abstract

Multi-house owners' speculation can be defined as solely capital gains from owning two more houses. As of November 1, 2022, there were 2.275 million people who owned two or more apartments or houses in our country. They own 6.983 million rental houses. In the 32 years from 1990 to 2022, the number of multi-house owners increased by about 28 times from 88,889 to 2,275,000. The size of their houses increased from 12.4% to 42.5% of all houses. Multi-house owners benefit from sales during the period of rising real estate prices, and pass risks on to tenants during the period of falling real estate prices. In addition, they are taking away opportunities for new home buyers from housing supply and breaking the price balance in the housing market. The speculation results of multi-house owners were found to be side effects such as distortion of the housing market, a crisis of reverse lease difficulties, an increase in gap speculation, and away speculation. Over the past 60 years, the government has reversed or repeated its speculative measures against multi-house owners. Speculative measures include heavy taxation on capital gains taxes, etc., tax audits, loan restrictions, rental business regulations, actual residence obligations, and restrictions on housing subscriptions. During the period of rising real estate prices, the government strengthened taxation on capital gains to curb speculation. Meanwhile, during the period of falling real estate prices, the government eased taxation on capital gains to revitalize the economy. The fact that measures are repeatedly reversed and repeated according to economic fluctuations has further encouraged speculation among multi-house owners. Eventually, speculative measures against multi-house owners became ineffective. Korea has already entered the era of population decline along with low birth rate and aging population. In addition, the concentration of industries and jobs in large cities and the outflow of population in rural areas are expected to be long-term decline factors in the housing market. If the houses owned by multi-house owners become more and more old and move away from the demand for housing rental, it will bring many changes to our economy. In order to prepare for such an environment, it is necessary to change the regulatory paradigm for multi-house owners. The revitalization of Housing Banking and the expansion of the public rental housing system are required. It will be possible in an active acceptance of the public concept of housing.