<Anchor> The listed prices of condominiums nationwide,

such as apartments, have dropped more than last year. That's down about 18%, the biggest drop ever. Since the listed price is the basis for real estate taxes, the taxes that homeowners have to pay will also be reduced.

First news is reporter Ahn Sang-woo.

<Gija>

82㎡ apartment in Jamsil Jugong 5 complex, Songpa-gu, Seoul.

Last year, the listed price was over 2 billion won, but in one year, it dropped to 1.517 billion won, down more than 700 million won.

The listed price of the Laemian Purgio apartment in Mapo-gu also dropped by 300 million won in one year to 1.094 billion won.

The reason behind the large drop in published prices is that house prices themselves have fallen due to sharp interest rate hikes and recession fears, and the government has returned the posted price realization rate to 2020 levels to ease the tax burden.

Nationwide, the listed price of condominium housing fell by 18.61%, the largest drop ever.

Sejong fell the most at 30%, followed by Incheon at 24% and Songpa-gu and Nowon-gu in Seoul at 23%.

The decline in disclosure prices, combined with the effect of lowering the terminal tax rate, is expected to significantly reduce the burden of real estate holding tax.

The 82㎡ Jamsil Jugong 5-complex apartment complex was expected to be reduced by more than half to 4.38 million won this year, compared to more than 10 million won last year.

The Mapo Lamianpurgio apartment, which has dropped from 1.38 billion won to 1 billion, is exempt from the end tax this year and only has to pay property tax.

The burden of maintenance fees calculated based on the published price will also be lowered.

[Kyung-ho Chu/Deputy Prime Minister and Minister of Planning and Finance: The premium burden of local members is expected to decrease by an average of 3.9% per household per month compared to the previous year.]

This year, more than 230,000 households will be eligible to pay the end tax, half of last year's 456,000 households.

In terms of price range, the published price of condominiums over 900 million won and less than 1.5 billion won is expected to drop the most, and the effect of lowering the holding tax is expected to be the greatest.

(Video Interview: Park Young-il, Video Editing: Yu Mira)

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<Anchor>

Ahn Sang-woo and we'll talk more about this.

Q. What is the impact on the real estate market?

[Reporter Ahn Sang-woo: As the listed price drops the most in history, the burden of holding tax is expected to be significantly reduced. First of all, there is a forecast that this will not be able to overcome the tax burden immediately and the number of urgent sales on the market will decrease. On the other hand, there is also an analysis that for homeless people who were hesitant to buy a house due to the burden of the holding tax, or for the unemployed, the barrier to entry to purchase a so-called "solid house" in the preferred area has been lowered. However, since high interest rates are still in place, there will be more housing price corrections than a rebound in house prices or a recovery in trading volumes. The prospect is dominant.]

Q. Greater benefits for multi-homeowners?

[Ahn Sang-woo: Yes, that's right. If you look at the simulation results right now, on the basis of one house per household, when the ownership tax of low-to-mid-priced houses is reduced by 20%, the ownership tax of high-priced apartments is reduced by 40%. And in particular, the holding tax of high-priced multi-homeowners was reduced by 70% when a similar simulation was run. Therefore, as the tax cuts for multi-homeowners are much larger, the "tax cut for the rich" controversy continues, and there is even a debate about whether the end-use tax created to prevent real estate speculation demand is useless at all. In response, the government excessively disclosed the disclosure price in the last government. In the process of raising the burden of holding tax, it is a process of normalizing the excessive burden of the holding tax.]

Q. When will the amount of holding tax be determined?

[Ahn Sang-woo: First of all, the published price released today must be determined, and the fair market value ratio, which determines the tax base, must be further determined from this published price. In the case of property tax, the rate will be announced in April, and in the case of the end tax, the rate will be announced in the first half of the year. It is said that the government is considering raising the fair market value ratio applied to the end tax, which was 60% last year, to 80% because it is worried that tax revenues will be greatly reduced. Nothing has been decided yet. The government is saying that even if it is raised, the holding tax burden will be around 2020 levels, or even lower.]