South Korean President Becomes Homeless After Selling His Only Home

South Korean President Lee Jae-myung has sold his only apartment, saying he no longer owns a home. According to Yonhap News Agency, the move supports the government's campaign to encourage homeowners with unused properties to sell them rather than hold them as investment assets.

President Sells His Only Apartment to Support Housing Policy

Sources said Lee Jae-myung put his apartment in Seongnam, just south of Seoul, up for sale. The property was his only privately owned residence. The listing first appeared in February 2026 as a public demonstration that citizens could trust the government's efforts to stabilize the housing market.

South Korea's current housing policy encourages owners who do not live in their homes to sell them instead of keeping them vacant for investment or speculation. Officials hope the strategy will increase the supply of available housing and reduce the number of empty apartments, which they believe distort property prices.

"I no longer have a home," Lee Jae-myung said during a Cabinet meeting focused on housing policy.

Officials said the president has already signed a preliminary sales agreement and expects to finalize the transaction soon.

The apartment measures 164 square meters (1,765 square feet), and Lee had owned it since 1998. The sale is expected to bring in 2.9 billion won (approximately $1.9 million).

Lee Jae-myung and his wife currently live at the official presidential residence in Seoul's Hannam-dong district.