No way out
Published: 04 Feb. 2026, 20:30
The government is pressing ahead with ending the grace period for heavier capital gains taxes on owners of multiple homes, signaling that no further extensions will be considered. Officials argue the move is needed to curb speculative demand and stabilize housing prices, while critics warn it risks distorting markets and widening gaps between prime and nonprime areas. Some owners are expected to rush listings to avoid higher taxes, though analysts doubt a broad correction. The debate underscores tensions between fairness, market realities and policy pressure in Korea’s housing market today. [PARK YONG-SEOK]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)