Non-Resident Single Homeowners Face Triple Tax Burden Above 1.2B Won

AI PRISM Custom Economic Briefing

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Soaring Assessed Values Increase Tax Burden: Seoul apartment assessed prices surged 18.67% year-over-year, expanding the comprehensive real estate tax base to 487,362 single-home households nationwide—an increase of 170,000 households. Non-resident single homeowners with assessed values exceeding 1.2 billion won now face combined property tax, comprehensive real estate tax, and rental income tax burdens expected to surpass 2 million won.

Listings Expansion Trend: Seoul apartment listings reached 78,077 units as of the 18th, the highest level this year, returning to an upward trajectory. Multi-property owners facing increased holding taxes are reportedly selling before the capital gains tax surcharge deferral expires.

High-End Contract Competition: DL E&C announced it will concentrate company-wide capabilities on the "ACRO" brand for Seoul's prime districts including Apgujeong Zone 5, Seongsu District 2, and Mokdong Complex 6. HDC Group is also intensifying competition, changing its name to "IPARK Hyundai Development" and reorganizing its portfolio into three sectors—Life, AI, and Energy—to mark its 50th anniversary.

1. Triple Tax Hit for Non-Resident Homeowners Crossing 1.2B Won Threshold

Seoul apartment assessed prices surged 18.67% year-over-year, adding 170,000 households to the single-home comprehensive real estate tax base for a total of 487,362 households. For the 84㎡ unit at Godeok Arteon in Gangdong-gu, assessed value rose from 1.006 billion won to 1.384 billion won, increasing property tax alone by over 1.05 million won. Non-resident single homeowners receiving monthly rent of 3 million won or more could see additional tax burdens of 2 million to 3 million won when comprehensive income tax is included. In Gangdong-gu, homes exceeding 1.2 billion won in assessed value increased more than sixfold from 3,167 units last year to 19,529 units this year.

2. 'ACRO' Maintains Top Brand Preference, Proves Asset Value Growth

DL E&C's high-end brand "ACRO" secured the top preference spot for the fifth consecutive time, chosen by 42.3% of respondents in a survey by real estate big data platform Dabang. Following ACRO River Park becoming the first domestic property to surpass 100 million won per 3.3㎡, ACRO Seoul Forest has ushered in the 200 million won per 3.3㎡ era. With approximately 80 trillion won in urban redevelopment projects expected this year, competition among high-end brands is set to intensify.

3. Seoul Listings Resume Upward Trend After Brief Pause

Seoul apartment listings reached 78,077 units as of the 18th, the highest level this year. After peaking at 77,352 units on the 14th and declining briefly, listings resumed their upward trajectory following the assessed price announcement. Gangnam-gu increased from 10,345 units on the 15th to 10,453 units on the 18th, while Seocho-gu reached 9,184 units. Han River-adjacent districts including Mapo, Gangdong, Gwangjin, and Yeongdeungpo-gu also saw listings increase approximately 2% day-over-day as sellers move ahead of the capital gains tax surcharge deferral expiration.

4. Continuing to Live in Rental Housing

As soaring assessed prices raise concerns about rent pass-through in private housing, public rental apartment residents are feeling relative relief. A 59㎡ Happy Housing unit in Gangnam, Seoul, is available for a deposit of 210 million won with monthly rent of approximately 800,000 won. However, only 8% of the 14,902 households leaving long-term jeonse housing have purchased their own homes, indicating significant divergence from the policy goal of supporting homeownership. Calls are growing for improved public rental management as some residents maintain single-income status or work only part-time jobs to meet income requirements.

5. "We Will Plant the 'ACRO' Flag in Apgujeong Zone 5 and Seongsu District 2"

Chae Jun-hwan, DL E&C's executive in charge of urban redevelopment projects, outlined this year's contract strategy as "selection and concentration," identifying Apgujeong Zone 5, Seongsu District 2, and Mokdong Complex 6 as key targets. This year's planned supply totals approximately 13,955 units, with general sales of "ACRO de Seocho" in Seocho-gu this month and "ACRO River Sky" in Dongjak-gu next month. The company will leverage its AA- credit rating and industry-lowest debt ratio to persuade union members. For public-led mixed-use projects, DL E&C aims to maintain market leadership based on contracts won for Jemulpo Station and Jeungsan Zone 4.

6. HDC Chairman Chung Mong-gyu: "Beyond Construction to Energy and AI Innovation"

HDC Group Chairman Chung Mong-gyu declared at the 50th anniversary ceremony: "We will become a group that designs life platforms, circulates energy, and innovates through AI." The group is reorganizing its portfolio into three sectors—Life, AI, and Energy—while HDC Hyundai Development will change its name to "IPARK Hyundai Development." Analysts view this as HDC Group—now a conglomerate with approximately 30 affiliates and assets of about 18 trillion won—attempting to transform from a construction company framework into a comprehensive platform enterprise.