Local and foreign investment in South Korean real estate dropped by nearly a third in the first three months of the year as Seoul announced plans to remove tax perks granted to the most common investment vehicles used by institutional investors.In the first quarter of the year, total foreign and local investment declined 31 per cent to US$4.44 billion from US$6.47 billion in the same period last year, data from Real Capital Analytics showed.Under the country’s current tax regime, real estate…
Source : South China Morning Post
Read more…South Korean property boom fizzles out as investors balk at plan to remove tax incentives