The housing policy in North Korea provides 1 house to 1 household free of charge. This policy assigns a house to the youths when they hold a job for a set term after completing school or when they get married and provides a ‘right to use for a lifetime’ and collects small usage fees. All of the property within North Korea belongs to the state and sales, lease and security is strictly prohibited. Also, only government, society and cooperative organizations are allowed usage. In the capitalistic countries restricted real right of usufruct and real rights granted by way of security in addition to the ownership is developed but in socialistic countries the state has ownership and the limited right to use is given to a group(organization, corporation etc.). This means that no detailed legislative is needed to strictly manage it because the ownership of the property within North Korea belongs to the state. Comparing the North Korea’s housing system directly with our leasing system has realistic gap and accurately defining it using comparison method is difficult. This is the fruit of the characteristics within the socialistic national policy so there is a need to look at it as a special area similar to the private property right.