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
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

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
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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