The main opposition People Power Party(PPP) has criticized President Lee Jae Myung's recent series of warnings against owners of multiple homes, arguing that he is treating them like criminals.

At a party leadership meeting Tuesday, PPP floor leader Song Eon-seog said Lee is distorting facts to make it seem like multi-home owners are the cause of soaring housing prices in the country, and stigmatizing the opposition and the media as forces that support speculation.

Song accused the administration of passing the buck to the public and said the market cannot be cooled down without an expansion of supply by the private sector.

PPP policy chief Jeong Jeom-sig took aim at the ruling Democratic Party's apparent focus on hiking taxes to curb housing prices, noting that prices surged during the Moon Jae-in administration after supply failed to catch up with demand.

In a statement, PPP chief spokesperson Choi Bo-yun said if the administration seeks to target such homeowners, it should first deal with Cabinet members and presidential aides who own multiple homes.