Luck of the market

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Luck of the market

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The office of a real estate agent at Jamsil 5 Danji, a residential complex in Jamsil-dong, southern Seoul, that recently won approval for redevelopment, on Wednesday. This month, the government implemented a new rule meant to control real estate prices in the country. If an apartment’s value rises by more than 30 million won ($28,200) after it’s rebuilt, the owner has to pay up to 50 percent of the extra profit to the government. Owners of homes slated for redevelopment have mixed responses to a recent simulation showing who might have to pay up after construction is done. [YONHAP]
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