Cheong Wa Dae says exemption of heavy capital gains tax for multiple home owners to end in May

▲ Cheong Wa Dae (Yonhap)

▲ Presidential spokesperson Kang Yu-jung speaks during a press briefing at Cheong Wa Dae in Seoul on Feb. 2, 2026. (Yonhap)

Cheong Wa Dae-real estate tax

Cheong Wa Dae says exemption of heavy capital gains tax for multiple home owners to end in May

By Kim Eun-jung

SEOUL, Feb. 2 (Yonhap) -- Cheong Wa Dae said Monday an exemption of heavy capital gains tax for owners of multiple homes will expire on May 9, in line with President Lee Jae Myung's strong resolve to stabilize the property market.

"It is clear that the exemption will end on May 9, as the president has repeatedly stressed on social media platforms," presidential spokesperson Kang Yu-jung told reporters, quelling media speculation about a further extension of the tax breaks.

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

Asked whether the move is part of preparations for a broader tax overhaul, Kang said the government is implementing various measures to stabilize the housing market, noting that Lee believes revising the property holding taxes should be considered a "last resort."

"Revising property holding taxes should be considered only if all these measures are deemed ineffective" Kang said, noting the government is currently focusing on making the existing policies effective.

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