A survey found that 7 out of 10 people feel burdened by real estate-related taxes.

As a result of a survey conducted by the Korea Research Institute for Human Settlements on 2,000 people aged 19 to 69 at the end of last year and released yesterday (1st), 71.3% of all respondents answered that real estate-related taxes were a burden.

24.2% responded that it was ‘very burdensome’ and 47.1% responded that it was ‘a bit burdensome.’

The most burdensome tax was ownership tax (41.2%), followed by acquisition tax (35.8%) and capital gains tax (23.0%).

When asked whether there was a need to relax the criteria for determining multiple homeowners in case of heavy real estate-related taxes (currently two homes), 56.1% of the total responded that there was no need to relax.

Among those who responded that there was a need to ease the burden (43.9%), the majority responded that 3 houses was appropriate.

When determining the appropriate criteria for levying real estate-related taxes, the response that the total price of the house owned should be considered (78.5%) was more than three times higher than the response that the number of houses owned should be considered (21.5%).

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The largest proportion of respondents, 46.7% and 43.9%, respectively, said that it would be appropriate to maintain the current (LTV 70%, DTI 60%) standards for mortgage recognition ratio (LTV) and total debt service ratio (DTI) for those who own one home or less. Yes.

There were slightly more respondents (41.7%) who said that the total debt service ratio (DSR) standard should be relaxed (40.6%) than those who said that it should be maintained (40.6%).

Regarding rental contracts, 16.5% of all respondents responded that they had experienced difficulties such as refusal or delay in returning deposits.

The majority of respondents (54.1%) said that the current renewal period for lease contracts, including implied renewal, is ‘2+2 years’, followed by ‘2+1 year’ at 22.4%.

As the most preferred form of home occupation, 93.8% chose owning their own home, while less than 3% each chose jeonse (2.9%) or monthly rent with a deposit (2.1%).

As a necessary housing support policy, 'support for purchasing a home' (59.2%) was most cited, followed by 'expansion of public rental inventory' (33.8%) and 'subsidy for housing costs such as housing benefits' (32.9%).

Meanwhile, in a national land policy survey conducted separately from the housing and real estate sectors, medical facilities (54.4%) were selected as the most necessary living infrastructure for the people.

The response rate was followed by welfare facilities (16.7%), cultural facilities (16.4%), childcare facilities (9.3%), park facilities (2.0%), and sports facilities (1.2%).

(Photo = Provided by Korea Research Institute for Human Settlements, Yonhap News)