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buy apple developer account:Factbox: South Korea tries to tame rampant real estate market

appleaccounts2020-08-0728

SEOUL - Since President Moon Jae-in took office in 2017, Seoul housing affordability has deteriorated to the worst on record despite tougher mortgage restrictions and new real estate taxes. The Moon administration announced 23 separate set of measures to cool home prices in the past three years, but is facing criticism that the measures are hurting those less well off. Below are the key real estate market policies: 2017 In 2017, the government tightened loan limits for home buyers to 40% of a property's value from 70% in phases for most of Seoul and its outskirts. Debt repayments were limited to 40% of annual income in selected regions, down from 50%. Capital gains taxes were increased by 10 percentage points, and those who owned more than three homes were slapped with a 20 percentage point increase. In December 2017, the government announced plans to cut capital gains taxes for homeowners who register themselves as renters to increase market supply. 2018 The government designated more parts of Seoul as speculative zones subject to tightened mortgage rules and announced plans to raise tax rates on ownership of properties valued over 600 million won ($501,000). It proposed relaxing restrictions on the floor area ratio in Seoul,

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