Land Minister says capital gains tax surcharge is one factor in home prices

Land, Infrastructure and Transport Minister Kim Yoon-deok said on the 10th that the revived capital gains tax surcharge is “one of the factors” affecting home prices, as concerns grow that homeowners may hold back listings. Kim acknowledged that tax changes can influence market supply and price sentiment, but said the government’s policy direction remains focused on steadily expanding housing supply. The remarks came amid worries that the resumption of the surcharge could affect sellers’ willingness to list homes and reduce available market inventory. The ministry emphasized that it will continue its supply expansion stance to help stabilize the housing market. Source: yna.co.kr