If Apartment Prices Hold Steady, No One in Seoul Escapes

If rising Seoul apartment prices coincide with the overhaul of the comprehensive real estate tax (jongbuse, a tax levied on those who own multiple homes or hold high-value properties), apartments subject to the tax are projected to expand by 2030 to cover 22 of Seoul's autonomous districts, excluding only Gangbuk, Geumcheon, and Dobong.

The findings come from an analysis by Rep. Shin Dong-wook of the People Power Party of simulation data (calculations based on hypothetical scenarios) submitted by KB Kookmin Bank. The figures assume a non-resident basis, meaning the owner does not actually live in the home.