Share of Seoul Apartment Gifts ↓...Impact of alleviating the burden of holding tax

This year, the proportion of apartment gifts in Seoul fell to the lowest level in seven years.

According to the statistics of apartment transactions by the Korea Real Estate Agency, the cumulative number of donations in Seoul apartments from January to September totaled 4,380, accounting for 6.2% of the total transaction volume.

The figure is lower than the 8% recorded in the same period last year and the lowest level in seven years since hitting 3.8% in 2017.

The share of apartment gifts in Seoul has increased significantly since 2018, when apartment prices rose and the burden of holding taxes surged, and soared to a record 14.2% in 2020.

However, the tax base has changed since January last year, increasing the burden of gift acquisition tax and easing the burden of holding taxes such as comprehensive real estate tax, which is interpreted as a decrease in the proportion of gifts.