“Son, I’ll give you the house next time”… Donation of an apartment in Seoul → Let’s sell it, why?

The share of apartment donations in Seoul hit the lowest level in three and a half years. It is interpreted as the result of the judgment that it is better to sell as the apartment transaction market gradually recovers while the tax has risen due to a change in the method 메이저놀이터of calculating the gift acquisition tax.

According to the Korea Real Estate Agency on the 13th, there were 4107 apartment gift transactions in Seoul in the first half of this year, accounting for 9.2% of all transactions (44,783). This is the lowest since the second half of 2019 (8.4%).

Looking at the half-yearly trend in the share of gift transactions, △ 14.2% in the first half of 2021 △ 11.7% in the second half of 2021 △ 14.2% in the first half of 2022 △ 13.8% in the second half of 2022, showing steady double digits.

In particular, compared to 13.8% of gift transactions in the second half of last year, it is 4.6 percentage points (p) lower. Last year, gift transactions ranged from 190 to 830 per month , but only 1,000 were recorded in December.

Last year, as house prices entered a period of decline in earnest, the psychological factor that it was better to give as a gift than to sell at a quick sale level worked. Also, from January 1 of this year, the tax calculation method has changed and the tax will rise has also had an impact.

However, starting this year, the tax base for acquisition tax that occurs when real estate is acquired as a gift has changed from the existing ‘market price standard amount’ (individual public price, etc.) to ‘market price recognized amount’ (market tax). The official price is usually 60-70% of the market price, but if this is calculated as the market price, the tax amount will inevitably increase.

Analysts say that gift transactions have decreased relatively this year as the tax impact was combined with the change in the atmosphere of the real estate market. In fact, the number of apartment sales in Seoul was less than 1,000 last year and exceeded 3,000 in April this year, showing a recovery trend. In some complexes, as the rush sale is exhausted, the stock is hitting a low and rebounding trading is appearing.

An official in the real estate industry said, “As real estate prices show an upward trend, it seems that it is better to choose a sale than to give away while paying the increased tax.”

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