▲ President Lee Jae Myung speaks during a meeting with senior aides at Cheong Wa Dae in Seoul on Jan. 22, 2026. (Yonhap)

Lee-real estate tax

Lee says won't consider extending exemption of heavy capital gains tax on owners of multiple homes

By Kim Eun-jung

SEOUL, Jan. 23 (Yonhap) -- President Lee Jae Myung said Friday that the government will not consider extending an exemption of the heavy capital gains tax for owners of multiple homes.

The temporary tax exemption, which is set to expire in May, was introduced in May 2022 as part of efforts to stimulate the real estate market and has been extended annually.

"An extension is not under consideration at all," Lee wrote on social media platform X.

Under current rules, capital gains taxes on real estate sales range from 6 to 45 percent. Owners of two homes in areas designated as speculative zones face an additional 20 percentage points, while those with three homes are subject to a 30 percentage-point surcharge on top of the basic rate.

Lee also questioned the fairness of a special tax exemption for homeowners who have held property for more than three years, particularly when the homes are owned for investment purposes.

"Such a system could discourage property sales and instead encourage speculation," he wrote.

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