Seoul Apartment Prices Jump as Tax-Avoidance Listings Fade

Seoul apartment transaction prices rose sharply in the first week after the heavier capital gains tax on multi-home owners resumed. The increase nearly doubled from the previous week as urgent listings posted for tax-saving purposes faded from the market. Gangnam prices, which had slowed for a period due to such discounted sales, also began to move again. According to the original report, apartments in Apgujeong climbed by 400 million won, while Helio City rebounded by 200 million won. The disappearance of tax-avoidance listings strengthened price momentum at major Seoul complexes. The shift shows how the depletion of urgent sales affected prices after the tax surcharge resumed. Source: mk.co.kr