Transfer Tax Surcharge and Home Prices: Minister Vows Continued Supply Expansion

Land, Infrastructure and Transport Minister Kim Yoon-deok said on the 10th that the resumed transfer tax surcharge is one of several variables affecting home prices. He acknowledged strong concerns that the return of the surcharge could lead homeowners to hold back listings, but said the government would continue expanding housing supply to stabilize the market. The remarks came as attention grows over how the tax change may affect sale listings and price trends. The government is expected to monitor market reactions while maintaining its supply expansion stance. Source: yna.co.kr