Seoul’s Luxury Property Auction Market Cools Under Tax Reform While Mid-Tier Properties Overheat
The Quick Take
- Seoul luxury apartments (valued above 3 billion KRW) are seeing auction market cooling as property tax reform bites
- Mid and lower tier apartments are experiencing heated auction competition as investors rotate away from high-end targets
- Korea’s 3 million resident foreigners are generating a new service industry segment targeting long-term foreign residents
- Property market bifurcation signals a structural response to policy rather than a broad market downturn
South Ko
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