Seoul Apartment Prices Rise as Multi-Homeowner Bargain Sales Disappear

Seoul apartment prices rose sharply in the first week after heavier capital gains tax rules for multi-homeowners took effect. According to the original report, bargain listings from multi-homeowners disappeared from the market, while apartment prices in Gangnam District, which had fallen for three straight months, also turned upward. As a result, apartment prices increased across all 25 districts of Seoul without exception. The report links the shift in market conditions to the decline in urgent sale listings after the tax burden became effective. The next focus is how Seoul apartment prices move after bargain-sale supply has thinned. Source: mk.co.kr