Higher capital gains taxes and property tax burdens drive listings spike, with Gangnam districts leading price declines
Posted by Freewhale98
Higher capital gains taxes and property tax burdens drive listings spike, with Gangnam districts leading price declines
Posted by Freewhale98
1 Comment
1. Summary
Following the imposition of higher capital gains taxes on multiple homeowners and a sharp rise in publicly announced prices, which is expected to significantly increase the burden of property taxes, the number of Seoul apartment listings has been rapidly increasing, leading to price decline for housing.
2. How is this related to the sub
(1) Housing Affordability: Lee Jae-Myung administration is trying to lower housing price by imposing higher capital gain taxes and property tax on “home hoarders”. Recent few weeks recorded drop in housing price, leading speculation whether Lee’s “class war” against “home hoarders” are working.
3. My opinion
The fear of taxes have gripped real estate speculators which led to them selling off houses they hoarded.