The South Korean government plans to conclude its relief policy on the heavy transfer tax imposed on multiple homeowners by May 9. Under this policy, those who buy properties already leased out must occupy the home until the lease expires. Moreover, homeowners who complete a sales contract by May 9 will receive a grace period of four to six months for payment and registration of the property. This move is part of the government's effort to manage the housing market and ensure smoother transitions for current tenants.

The Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and the Financial Services Commission have outlined specific guidelines related to this extension. In particular, for properties in designated adjustment areas—namely the three districts of Gangnam and Yongsan—those who sign a sales contract by May 9 and complete all transactions within four months will not face additional transfer taxes. Moreover, for properties newly designated as adjustment areas last year, a six-month grace period is granted for occupancy after signing the contract.

To provide even more clarity, certain flexibilities are applied concerning the actual residency requirements. Homebuyers with existing tenants in the property now have their residency requirement relaxed until the end of the lease contract, but they must still occupy the home by February 11, 2028. Lastly, changes have also been made to the timeline for reporting residency for mortgage executions, offering more leniency to homebuyers during this transition period when buying from those who do not own other homes.