The official price of the apartment increased by 19%… Should I sell a multi-homed house?

◀ Anchor ▶

The price of the apartment, which is the basis of the ownership tax, has risen 19% from last year.

This is because the government decided to raise the official price to match the market price, and the apartment price itself skyrocketed.

The government’s plan is to raise the ownership tax so that multi-homed people can sell their products.

Reporter Lee Moon-hyun covered it.

◀ Report ▶

The government unveiled the listed prices for apartment houses this year.

It is up 19% from last year.

This is the largest increase since 2007.

Seoul rose 19.9%, Gyeonggi-do 23.9%, and Sejong city 70%.

By autonomous district in Seoul, apartments in Gangbuk areas such as Nowon-gu and Seongbuk-gu have risen more than Gangnam 3-gu.

This is because the increase in apartment prices was reflected in the published price.

[우병탁/신한은행 부동산투자센터 팀장]

“Especially in the Gangbuk region, it seems that the rise of mid- and low-priced homes and market prices have been relatively large.”

The published price is the basis for charging property tax.

However, not all property taxes are rising.

If the public price is less than 600 million won (1), the property tax is reduced by about 110,000 won by lowering the tax rate for one homeowner.

This is 70% of apartment houses in Seoul, and 92% nationwide.

[신광호/국토부 부동산평가과장]

“Most houses are still priced below 600 million won… Because the tax rate is lower than the general tax rate, the actual property tax borne will be lower than last year.”

On the other hand, taxes for expensive apartments, especially multi-homed people, rise significantly.

For example, a person who owns two houses in Gangnam-gu, Seoul, one with a Dogokrexle worth 3.3 billion won and an Eunma apartment worth 2.1 billion won.

Combined, the price of the apartment is KRW 5.4 billion.

Last year, the ownership tax was 50 million won, but this year it has risen to 120 million won.

The published price will continue to rise steadily in the future.

We plan to raise it to 90% of the market price by 2030.

The government is expecting to raise the burden on the holding tax, balance the tax, and allow multi-homed people to sell.

[신광호/국토부 부동산평가과장]

“I am thinking that if there is a change, the entire multi-homed people will not be affected.”

As of 2018, the effective holding tax rate in Korea is 0.16%.

Compared to the OECD average of 0.53%, it is still low.

This is Moon-Hyun Lee, MBC News.

(Video coverage: Jung Woo-young, Kim Woo-ram / Video editing: Ji-young Ji)

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