Main opposition People Power Party(PPP) leader Jang Dong-hyeok has criticized President Lee Jae Myung's anti-speculative housing policy, saying multi-home owners are not selling their properties because the president himself doesn't expect home prices to drop.

Jang made the comments during Thursday's Supreme Council meeting after Lee's posted another warning on social media against owners of multiple homes looking for luxury properties.

He claimed that Lee has not sold an apartment unit he co-owns with his wife in the Bundang District of Seongnam in Gyeonggi Province, which has been vacant for the past four years, likely because the president doesn't expect its price to drop.

Jang said home prices soar under liberal administration—by around 60 percent in Seoul and 30 percent elsewhere, based on the past three liberal governments—and that the Lee administration is about to set a fresh record.

Jang also took jabs at high-level officials in the administration who own multiple homes saying there are too many devils at the presidential office and in Lee's Cabinet.
 
The opposition leader then urged the administration to halt its political intervention and to redirect its policy to focus on housing supply led by the private sector.