South Korea Eases Property Regulations Across Capital Seoul
South Korea's Finance Ministry will be easing financial regulations on home buyers in most districts of the capital Seoul, in an effort to support the country's sharply falling property market. Among 25 districts in Seoul, only four will remain on the finance ministry's ‘speculative area’ list, the ministry said. It currently consists of 15 districts. Those to remain on the list are Yongsan-gu, Seocho-gu, Gangnam-gu, and Songpa-gu, in which stricter mortgage rules and heavier taxes are imposed on home buyers. The decision comes a day after South Korean President Yoon Suk-yeol promised to keep easing restrictions on home buyers to achieve a soft landing in the property market.
Tags : South Korea's Finance Ministry financial regulations home buyers districts Seoul country