Tag: real estate tax

real estate tax

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Taxes alone won't fix Korea's housing market (KOR)

As Seoul prepares new property taxes, experts warn that easing loan bottlenecks and boosting housing supply matter more for stabilizing Korea's market.

2026.7.27

Taxes alone won't fix Korea's housing market

As Seoul prepares new property taxes, experts warn that easing loan bottlenecks and boosting housing supply matter more for stabilizing Korea's market.

2026.7.26

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Parties reach agreement on property bill but fail to finalize

The bill eases the burden of the comprehensive real estate holding tax on people that temporarily own two apartment units during a transaction process for reasons such as relocating to another city.

2022.9.1

A post office employee in a Gangnam District branch in southern Seoul is sorting out tax bills for homeowners that are to be delivered on Wednesday. This year, the number of people that are expected to receive their bill on the comprehensive real estate holding tax is estimated close to 950,000, up 42 percent year-on-year. The amount they collectively owe increased 216 percent to 5.7 trillion won ($4.8 billion). [YONHAP]

Tax incoming

This year, the number of people that are expected to receive their bill on the comprehensive real estate holding tax is estimated close to 950,000, up 42 percent year-on-year. The amount they collectively owe increased 216 percent to 5.7 trillion won

2021.11.23

A post office worker in Seoul pushing a cart full of this year's comprehensive real estate holding tax on Monday. [YONHAP]

Comprehensive real estate tax bomb lands on 1 million

According to the Finance Ministry on Monday, 947,000 people received bills, a 41.8 percent increase year-on-year. The amount they owe is 5.7 trillion won -- 216 percent higher than 1.8 trillion won a year ago.

2021.11.22

Democratic Party floor leader Yun Ho-jung addresses DP members before a vote on the party’s real estate measures at the National Assembly on Friday. [YONHAP]

In shift, DP proposes a change in property taxes

One is exempting sales for properties under 1.2 billion won from capital gains taxes, from the current 900 million won. The second proposal is to only impose the comprehensive real estate tax on the top 2 percent by government assessed values.

2021.6.18

View of apartments in Seoul on Nov. 3. The government announced the raising of the assessed value of apartments to 90 percent of the market value in the next 10 years. In exchange for the lower burden the government decided to lower property tax by 0.05 percentage points for apartments whose assessed value are 600 million won or less. [YONHAP]

Gov't, DP compromise on taxing matters

The ruling party gave into the government on a real estate tax issue in exchange for the government making a concession on a capital gains tax change, which it is dropping. The cut will be applied until 2023.

2020.11.3

Go back to basics

The prospects of the 22nd set of real estate measures the Moon Jae-in administration announced on Friday are certainly not bright because of a lack of concrete plans to increase housing supply to meet demand. Flanked by Land...

2020.7.12

Go back to basics (KOR)