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Democratic Party has proposed a bill that reduces the transfer tax for multi-family houses even if they own a house for a long time.



We are trying to induce people with multiple houses to sell their houses by next year, but reporter Hwa Gang-yun asked if that would actually work.



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A single homeowner who has owned and lived for more than 10 years is subject to transfer tax after deducting up to 80% of the gain from transfer when selling a house.



Multi-homeowners who sold their houses and became single-family owners are now also entitled to special deductions calculated from the time they acquired the house.



However, from 2023, the Democratic Party proposed an amendment to the tax law that calculates the holding period from the time of becoming a single owner rather than the time of buying a house.



It is analyzed with the intention of selling the house by next year.



[Park Won-gap / KB Kookmin Bank Senior Real Estate Specialist: (Enforcement of the Act) If you go to that time, you won’t be able to get any special deductions. From the perspective of multi-family dwellers, there is growing pressure to reduce the number of houses… .]



Some are skeptical that this will lead to an increase in sales.



Last year, the property tax and transfer tax rates were sharply raised to induce multi-homeowners to sell, but only the donations increased.



This time, the phenomenon of being locked out or offering only local properties outside the metropolitan area occurs.



[Ahn Myung-sook / Lucent Block Real Estate Director: The phenomenon of turning to a gift or going for sale as it is and going to one side seems to be intensified... .]



The amendment also included a plan to apply different tax benefits for long-term holdings according to the profits left by selling the house.



Some critics say that the related tax law is too complicated, although the purpose is to collect more tax on houses that generate a lot of capital gains.