A survey result showed that the share of real estate transaction tax in Korea was the highest among the Organizations for Economic Cooperation and Development and OECD countries.

According to the report of the'OECD National Real Estate Tax Analysis', commissioned by the Democratic Party Democratic Party to the National Assembly Budget Office, the amount of real estate transaction tax and holding tax in Korea was 27,440 billion won and 15,600 billion won, respectively, as of 2018. , 1.5% and 0.9% of nominal gross domestic product.

In the case of transaction tax, Korea was 1.5%, more than three times higher than the OECD average of 0.4%.

It was far higher than the major OECD countries, such as the United States at 0.1%, Japan at 0.3%, and Germany at 0.4%.


On the other hand, the share of holding tax is 0.9%, which is lower than the OECD average of 1.1%.

It was also relatively low compared to major countries such as Canada 3.1%, UK 3.1%, and US 2.7%.

"Our country has a relatively high share of the transaction tax, so there are opinions from experts that it is necessary to lower the transaction tax at any time in order to bring the amount of homeowned goods to the market," Jung said.

He also pointed out, "Even in the following measures, the charter has disappeared from the market, and the regulatory effect is different in the metropolitan area and the province."

(Photo = Yonhap News)