If you own property in Korea but don't live in it, your tax bill is about to change dramatically.
Seoul Economic Daily reports that Korea's 2026 tax reform raises the resident deduction for owner-occupied homes to 1.4 billion won (~$1.01 million) while cutting the non-resident deduction to 900 million won (~$652,000). A 5.6-billion-won (~$4.06 million) Seocho apartment sale shows capital gains tax could nearly quadruple by 2029 under new deduction caps. Analysts warn mid-priced homes and rental prices face rising pressure even as luxury markets cool.
Sources:
- Korea's New Property Tax Rules Raise Bills for Non-Resident Owners — Seoul Economic Daily, Aug 3, 2026
- Capital Gains Tax Caps to Quadruple Bills on High-Value Home Sales — Seoul Economic Daily, Aug 3, 2026
- Experts Say Tax Reform Won't Cool Mid-Priced Housing or Rents — Seoul Economic Daily, Aug 3, 2026
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Tags:
#KoreaRealEstate #PropertyTax #JeonseMarket #SeoulHousing #KOSPI #AIPRISM #SeoulEconomicDaily #WANIFRA
