Views Article – Sharenet Wealth

Asia, News

S.Korea to step up property mkt regulation, probe transactions of homes worth over 900 mln won

(Corrects by adding missing words in 1st para)

SEOUL, Aug 5 (Reuters) – South Korea’s finance ministry said on Wednesday it will hold meetings with the relevant officials to review the property market every week and discuss further measures to eradicate speculative transactions in the market.

It will also investigate often sources of funds used in the sales of homes worth more than 900 million won ($754,305.83), Finance Minister Hong Nam-ki said.

Hong’s remarks come a day after the government announced it would supply more than 132,000 new homes in Seoul through 2028 in its 23rd measure by Moon Jae-in’s administration to cool soaring home prices.

($1 = 1,193.1500 won) (Reporting by Joori Roh; Editing by Jonathan Oatis)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.