South Korea’s Ministry of Land, Infrastructure and Transport said Wednesday it will accept applications for land-transaction permits on Saturday, May 9, at district offices in Seoul and at relevant city and district offices in Gyeonggi province where the properties are located.
The ministry said the Saturday intake applies only to permit applications tied to the temporary suspension of heavier capital gains taxes for multi-homeowners. Applications will not be accepted at Seoul City Hall, the Gyeonggi provincial government office, or at the city halls of Suwon, Seongnam, Yongin and Anyang.
The ministry said the move was agreed upon by the ministry, Seoul, Gyeonggi province and local permitting authorities to improve public convenience. Parties to a transaction can submit required documents in person from 9 a.m. to 6 p.m. on May 9.
Officials expect a late surge in applications because May 9 is the final day the tax-relief measure officially remains in effect and it falls on a nonbusiness day.
Seoul city statistics show 7,653 new apartment-related land-transaction permit applications were filed in March, up 69.7% from 4,509 in February. It was the highest monthly total since Seoul introduced the land-transaction permit system citywide in October last year. The city attributed the record pace to the approaching end of the tax-relief period for multi-homeowners.
A Seoul official said the Saturday intake is intended to prevent unnecessary disputes over the filing deadline and to minimize inconvenience or disadvantage to applicants by administratively reflecting the fact that the deadline falls on a holiday.
* This article has been translated by AI.
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