Prices for apartment houses in Korea have risen by nearly 20% this year. As a result, the tax burden for home ownership in Korea is expected to surge, with taxes for multi-home owners in the Seoul metropolitan area increasing by more than double.
Why it matters: The Korea housing market is a fire growing out of control. Every year, tens of thousands of apartments are built to meet insatiable speculative demand, yet they remain unoccupied due to high prices, multi-home owners, and Korea's dwindling population