One of the biggest beneficiaries of a massive buying spree by retail investors last year may be the government.
Property taxes will increase in June as planned, the government confirmed, as the administration seeks to compel sales that it hopes will lead to an increase in supply and a stabilization in prices.
With new real estate measures being passed that will raise the cost of ownership and penalize sales, property owners are choosing to pay now rather than pay later.
Land Minister Kang Ho-in under the previous Park Geun-hye government was often criticized for being “too lukewarm” in real estate policy. When the new apartment offering market was overheated during his early days in office, he...
Couples are on edge, with some considering divorce, as new taxes may soon be passed on property.
Protests over the government’s real estate measures are held in front of the Korea Deposit Insurance Corporation on Saturday in downtown Seoul, as a public backlash grows over the government’s regulations on higher property and capital gains taxes.
The government's plan to create a new tax on investment profits while reducing securities transaction fees is expected to face heated debate during an upcoming public hearing.