Seoul real‑estate gifts surge 83% in first half of the year

In the first six months, Seoul recorded 13,518 property‑gift registrations, an 82.9% increase over the same period last year’s 7,391 cases. The rise was most pronounced in the city’s affluent Southern districts, with Seocho leading at 1,268 gifts, followed by Gangnam (889) and Songpa (830). Gwangjin district saw the steepest growth, jumping 154.5% from 235 to 598 registrations, while Yong‑san, Dong‑jak, Nowon and Dong‑daemun also posted double‑digit percentage gains.

Analysts attribute the surge to a spike in property assessments that raised holding‑tax liabilities, prompting owners to transfer assets before higher taxes take effect. A tax change introduced on May 10 tightened capital‑gains rates for multiple‑home owners, and the exemption period for the multi‑home levy ended, encouraging many to opt for gifting instead of selling.

The trend reflects broader market softness, with loan‑restriction measures curbing sales activity and prompting owners to seek tax‑efficient transfer routes ahead of the June 1 property‑tax assessment.