Real Estate

Standardization of Tax and Lending Regulations for Multihomed...Relaunch of Rental Business

Host Kim Yong-min> Economic policy direction for next year Let's look at them one by one. The government has predicted that next year's growth rate will slow significantly due to uncertainty in…

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Feb 5, 2023 • 2 min read

Host Kim Yong-min>

Economic policy direction for next year Let's look at them one by one.

The government has predicted that next year's growth rate will slow significantly due to uncertainty in financial markets and sluggish exports.

In response, he said he would run it steadily in preparation for inflation and economic conditions.

Anchor Evening Yoon>

especially For a soft landing in the housing market, tax and loan regulations for multi-home owners will be eased and support for rental businesses will resume.

This is the report of journalist Lim Bora.

Journalist Lim Bora>

The government forecast Korea's economic growth rate for next year at 1.6 percent.

Compared to this year's growth rate of 2.5%, this figure is significantly lower than the potential growth rate.

Transcript> Choo Kyung-ho, Deputy Prime Minister of Economy

'Amid financial market uncertainty due to global monetary tightening, fears about real estate contraction and marginal business risks are also growing. Under these challenging conditions, next year's growth rate is expected to slow markedly from 2.5% this year. year at 1.6%'.

The inflation rate will be lower than this year at 3.5%, but the number of employed people is only expected to increase by 100,000 compared to the previous year.

In the midst of this, the direction of economic policy for next year was announced.

Deputy Prime Minister for Economic Affairs Choo Kyung-ho said, 'We will focus on price stabilization for now in response to the recent economic situation at home and abroad.'

Transcript> Choo Kyung-ho, Deputy Prime Minister of Economy

'While focusing on price stability for now, macroeconomic policies will be managed flexibly by comprehensively considering macroeconomic conditions such as risks and the economy.'

In response to the risk of an economic downturn due to austerity, the government decided to accelerate the first half of the fiscal year, a record 65%, and accelerate the already announced liquidity support of KRW 50 trillion + to stabilize the bond market. .

with We have also prepared countermeasures against the rapid freezing of the real estate market.

First of all, we decided to roll back tax and loan regulations for people with multiple homes.

It was agreed to ease the hefty acquisition tax rate for multihomed residents from 8% and 12% to 4% and 6% and to extend the capital gains tax exemption, which was deferred until May 2019. next year, for one year.

Moreover It was decided to allow the mortgage lending rate of multi-homed people in regulated areas from the current 0% to 30%.

Measures to support rental businesses will also be reinstated.

It was decided to resume the 10-year long-term purchase and lease registration for apartments with an exclusive area of 85㎡ or less, and provide tax incentives such as acquisition tax reduction and income tax exemption. transfer.

Moreover Depending on market conditions, a further waiver of regulatory areas and sales price ceilings of private residential land will be promoted..

Along with this, the government has decided to gradually increase the electricity and gas tariffs from next year to 2026.

I'm Im Bora from KTV.

(Video Cover: Chae Young-min / Video Editing: Oh Hee-hyun / Video Art: Min Hye-jeong)