Luck of the market
Published: 24 Jan. 2018, 19:46
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]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)