60% of apartments in Seoul face property-rich tax vs 16% 4 yrs ago when Moon govt took off

Six out of 10 apartments or 57% cost over 900 million won ($759,045.29), a threshold for taxing for rich property ownership surcharge, as of June versus 15.7% in June 2017, a month after President Moon Jae-in took office, showed Real Estate Board data obtained by Rep. Kim Sang-hoon. The share of apartment units costing over 1.5 billion won shot up to 22.4% from 3.9% under the incumbent government.

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