The Moon Jae-in administration has laid out up to 25 sets of real estate measures. They included multiple heavy taxes that cannot be found in any parts of the world and suppressed ownership to dry up the supply pipeline. Many...
Average Seoul apartment prices have hit 1.1 billion won ($988,000) for the first time, up from 1 billion won in September 2020, according to data compiled by KB Kookmin Bank since 2008.
The government-assessed value of standalone houses in Seoul will increase 10.13 percent next year, higher than this year’s increase of 6.82 percent from 2019. The average increase for the nation is 6.68 percent.
The 24th set of real estate measures has even lost favor with the progressive front. The Kyunghyang Shinmun questioned if “mid- to small-sized public rents in unpopular districts can help meet the growing demand for jeonse...
The government will increase supplies of residences by 114,000 units over the next two years, including repurposing hotel rooms and office space. This is the 24th set of real estate measures introduced by the Moon Jae-in government.
It is shocking that key members of the presidential secretariat tendered their resignations en masse — including Senior Civil Affairs Secretary Kim Jo-won, who had faced fierce criticism for his attempt to deceive the public...
Speed is essential with real estate policy. Excessive speed can be lethal. It is like the use of drugs in chemotherapy. Some drugs may be effective in killing a tumor, but few doctors would prescribe them due to the risk of...
Thousands of people stage a candlelight vigil to protest the government's retroactive application of higher property and capital gains taxes in front of the Korea Deposit Insurance Corporation in downtown Seoul on Saturday evening.
President Moon Jae-in’s inaugural speech in May 2017 is still impressive. It poignantly declared a determination to unite and rebuild the country after the first-ever presidential impeachment and removal from office. Any...
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