[Click eStock] "Construction Industry, Real Estate Policies Change in 2025"

Hana Securities pointed out on the 17th that real estate policies will change from 2025 for the construction industry and that caution is needed.

Researcher Kim Seung-jun said, "There are changing real estate policies to be aware of starting in 2025," adding, "First, from July next year, the third stage of the stress Debt Service Ratio (DSR) will be applied. Compared to the second stage, the changes include an expansion of the applicable targets and an increase in the basic stress interest rate application ratio."

The applicable targets will expand from existing mortgage loans and credit loans to include other loans. The basic stress interest rate application ratio will also increase from 50% for general loans and 80% for the metropolitan area to 100% overall.

Researcher Kim added, "Accordingly, the DSR calculation additional interest rate, which was 0.75 to 1.2 percentage points in the second stage, will rise to at least 1.5 percentage points," and "Following the second stage, the loan limit that can be additionally borrowed is expected to decrease."

He also noted, "The exemption from the heavy capital gains tax for multi-homeowners is until May 9 next year. The current heavy capital gains tax rates are the basic rate plus 20 percentage points for two-homeowners and plus 30 percentage points for those with three or more homes."

He continued, "Capital gains tax and comprehensive real estate tax with special provisions for one household one home owners when purchasing houses in population-decreasing areas or unsold houses outside the metropolitan area will apply from those decided or revised after January 1 next year," adding, "Conditions for newborn special loans will also be eased from January 1 next year."

He went on, "From June next year, certification of zero-energy buildings (grade 5) will be mandatory for permits of private apartments with 30 or more households," and explained, "The Ministry of Land, Infrastructure and Transport predicts that construction cost increases will amount to 1.3 million KRW per household based on an exclusive area of 84m2."