SEOUL (Reuters) – South Korea finance minister on Friday acknowledged the authorities will elevate loyal property taxes for a pair of dwelling homeowners and motivate renters to unload properties.
Valid property taxes that kick in on properties valued over 600 million won ($499,488) for a pair of dwelling homeowners will be increased, whereas capital beneficial properties tax rates will additionally be raised, Hong acknowledged at a protection assembly.
Hong didn’t elaborate.
The authorities additionally plans to raise dwelling provides in the metropolitan verbalize surrounding the capital Seoul.
Reporting by Cynthia Kim, Joori Roh; Making improvements to by Shri Navaratnam