Reviewing measures to strengthen holding taxes and ease capital gains taxes for multiple-home owners

The Blue House is reviewing ways to strengthen holding taxes on multihome owners while also easing capital gains tax burdens so that properties can come onto the market. On the 27th, Policy Chief Kim Yongbeom said in a radio interview that he is considering ways to reflect various opinions in policy, such as setting a cap on the special longterm ownership deduction and easing the tax burden on people who relocate to the provinces after retirement. Chief Kim explained that a variety of discussions are underway regarding the criteria for ultrahighpriced homes and how to strengthen holding taxes. He said there were suggestions that, if holding taxes are raised, it is necessary to provide a certain exit route at the same time in order to reduce the side effect of multihome owners delaying the sale of their homes. Ha Junkyung, Senior Secretary for Economic Growth, also stated that holding taxes should be determined by considering housing welfare, tax equity, and social efficiency together. The government is supplementing its real estate measures by also reviewing shortterm supply expansion, jeonse and rent countermeasures, and credit regulation checks.