As listings from multiple-home owners looking to sell before the end of the capital gains tax surcharge grace period on the 9th disappeared, the number of Seoul apartment listings fell sharply.
According to real estate big data firm A-Sil on the 10th, the total number of Seoul apartment listings stood at 66,914 as of that day. Compared with 80,080 on March 21, when listings were the highest this year, that is a decrease of 13,166, or about 15%.
Meanwhile, the number of Seoul apartment jeonse and monthly rental units, which had been declining due to the owner-occupancy effect of the land transaction permit area (the land transaction permit system), came to 31,574 as of the survey on the 10th, rising again since late April.
Market experts generally say multiple-home owner listings are unlikely to return to the market. Ko Jun-seok, a professor at Yonsei University Sangnam Institute of Management, said, "With the capital gains tax surcharge of more than 80% at the peak in effect, there are almost no multiple-home owners who can sell dwellings while bearing such taxes."