Buckle to Look at Real Estate Speculation

It is unveiled that National Tax Service (NTS) had checked up on the realities of the real estate speculation, at the place of application of “The Star Park,” which was parceled out at Bundang new city, Sungnam, Kyungki, by Posco Construction Co.

NTS, on October 26, passed on that it has worked in hand to inspect the speculation on the reconstructed apartment blocks in Kwangmyung and Hanam, and commercial-residence composite apartment in Bundang new city, which is under control of the central district branch of NTS.

These measures are kept in step with the indication that points out the high possibility of speculation on the commercial-residence composite apartments of the popular districts such as “The Star Park,” which took the setup permission before June 1st, allowing the resale of the move-in rights.

In particular, the real estate speculation countermeasure team of NTS, from October 23, has gone through a concentrated supervision on the large-scaled purchasing powers, centered on the movable realty dealers, for two days.

The competitive ratio of “The Star Park” was 72 to 1, showing the flared-up air, being different from the recent stable tendency of the realty market.

“This supervision was not carried out like the past, when the arm-banded officer held down the speculation in large extent, but to blow up the preliminary checks on it, in order to prevent the speculation,” remarked Kim Chul-min, the chief of 3rd inspection department of NTS.

NTS also got down to jack up its depth of inspection, checking up on the companies under suspicion of increasing the housing prices, and securing the processing of realty exchanges in Kangnam district, Seoul since August. NTS is tracking down the origins of the funds of the 448 speculation suspects in Kangnam district. Besides, NTS is monitoring the situation of its branches in Ulsan, Yangsan, Kyungnam province, Daegu, and Busan. It planned to immediately get down on inspection, if needed.

Ji-Wan Cha cha@donga.com