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Seoul Apartment Transactions Plunge 71% in July as Tax Reform Looms

2026-07-27 23:23:23

According to Yonhapinfomax, Seoul apartment transactions plummeted to 2,634 units in July, down from 9,090 in May, as the government prepares to announce real estate tax reforms on July 28. The decline reflects widespread caution among property holders ahead of the policy announcement, which is expected to strengthen holding taxes and introduce stricter levies on ultra-high-price properties. In July's transactions, deals valued at 1.5 billion won or below accounted for 2,235 units, while only 68 transactions exceeded 3 billion won. High-end districts including Gangnam are experiencing particularly subdued trading activity, with market participants awaiting details of the tax overhaul before making decisions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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