South Korean President Lee Jae Myung's apartment in Seongnam, just south of Seoul, is set to be sold, five months after it was put on the market.

Axar.az reports, citing Yonhap News Agency, that Lee put the apartment in Seongnam's affluent Bundang district, his only home, which he owns jointly with his wife, on the market in February as part of an effort to curb runaway home prices.

Sources at Cheong Wa Dae said the final contract is expected to be signed soon, following the preliminary contract signed shortly after the apartment was put on the market.

During a Cabinet meeting he presided over earlier in the day, Lee said, "I no longer have a home."

It should be noted that Lee Jae-myung currently lives with his wife at the official presidential residence in Seoul.