Lee's Seongnam apartment set to be sold after five months

President Lee Jae Myung's apartment in Seongnam's Bundang district is expected to be sold five months after it was put on the market, The Korea Times reported Tuesday.

The sale involves Lee's only home, jointly owned with his wife, and comes after he listed it in February as part of an effort to curb runaway home prices, according to The Korea Times.

The Korea Times reported that a preliminary contract was signed shortly after the apartment was listed, and sources at Cheong Wa Dae said the final contract is expected to be signed soon.

The apartment is in Seongnam's affluent Bundang district in Gyeonggi Province. The Korea Times reported it is Lee's only home and is jointly owned with his wife.

Lee referred to the pending sale during a Cabinet meeting earlier Tuesday. "I no longer have a home," President Lee Jae Myung said, according to The Korea Times.

The report said Lee put the apartment on the market in February as part of an effort to curb runaway home prices. The final sale has not yet been completed, but sources at Cheong Wa Dae said it is expected soon.

The Korea Times reported that the expected sale would close a five-month process that began when Lee listed the apartment in February.