In recent discussions at a National Assembly seminar on real estate tax normalization, experts have voiced concerns over the government's continued tax and loan pressures on multiple-home owners in South Korea. They emphasize the need to limit tax benefits for property owners possessing high-value single homes, known as 'tall apartments', to those who actually reside in them. Professor Lim Jae-man from Sejong University highlighted rising inequalities resulting from policies that originally aimed to curb speculation among multi-property owners, leading to an obsession with high-priced apartments instead.

Current laws allow owners of single homes with a transaction price below 1.2 billion won (approximately $1 million) to avoid capital gains taxes if held for more than two years, with further deductions available for long-term residents. Professor Lim criticized the arbitrary nature of the price threshold and called for a more objective and transparent assessment basis. He pointed out that other countries often require actual residency for tax benefits, contrasting with South Korea's approach, where merely holding property qualifies for advantageous tax treatment.

During the seminar, participants also discussed the need for reforms in the comprehensive real estate tax (종합부동산세) that currently exempts properties up to a public valuation of 1.2 billion won regardless of residency. Experts like Professor Kim Hyun-dong suggested it is time to move away from the dogma that homeowners should be tax-exempt, advocating for a model that offers limited deductions based on property value rather than blanket protections for single-home owners. This ongoing debate reflects not only the economic implications for the housing market but also the entrenched societal values surrounding homeownership in South Korea.