A day after the government released stronger measures to curb speculative housing practices... the Minister of Economy and Finance reportedly defended the move against criticisms of heavy taxation... and says... the government may even consider further measures to strengthen regulations against spreading false information to drive up housing prices.
In an interview with local T-B-S Radio on Friday... Minister Kim Dong-yeon says,.... the recent measures are aimed at cooling down the overheated housing market by targeting speculative practices... and will have a limited impact on the majority of prospective homebuyers.
The measures include,.... raising taxes on owners of high-priced properties in speculative areas... and a ban on those with multiple homes from borrowing money for speculative buying.