Residential blocks and houses are seen from the observation deck of the Lotte World Tower in Seoul, South Korea. Last year, Hong Kong investors bought US$203 million worth of real estate in the country. Photo: Bloomberg

South Korean property boom fizzles out as investors balk at plan to remove tax incentives

  • Foreign and local investment declined 31 per cent to US$4.44 billion in the first quarter from a year earlier
  • Real estate funds and private real estate investment trusts, which enjoyed lower levels of tax, will have to pay the same tax rates as regular companies
Topic |   International Property

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Residential blocks and houses are seen from the observation deck of the Lotte World Tower in Seoul, South Korea. Last year, Hong Kong investors bought US$203 million worth of real estate in the country. Photo: Bloomberg
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