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Korea tightens real estate oversight to curb artificial home price inflation
South Korea will mandate categorized reasons for property deal cancellations, aiming to detect fake transactions and prevent artificial inflation of housing prices.
South Korea’s plans to strengthen monitoring of property transactions by requiring standardized cancellation reasons instead of free-text explanations. The move targets practices where contracts are signed at inflated prices and later canceled to distort market benchmarks. Under the proposed change, parties or brokers must select categorized reasons such as funding issues or mutual agreement.