Gov't to Tackle Rising House Prices

  • Arirang News

    August 03, 2017 08:23

    Kim Hyun-mee

    Minister of Land, Infrastructure and Transport Kim Hyun-mee on Wednesday announced new measures aimed at reining in speculative investments in the housing market.

    Kim said the government is against real estate speculation as a means of earning money.

    New stricter rules will require multiple-home owners to pay higher taxes when they sell a home and seeks to increase housing supply for low-income earners by expanding state-leasing of apartments.

    The government felt the need to tighten the leash on the housing market further after measures announced in June failed to prevent housing prices from soaring.

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