May 2022 – The government launches a temporary capital‑gains‑tax exemption for owners of multiple homes to boost the real‑estate market, a relief that will be renewed annually until 2025 [13][14].

2022‑2025 – Under President Yoon Suk‑yeol, the planned reinstatement of a 75 % capital‑gains tax on multiple‑home owners is repeatedly postponed, extending the exemption for almost four years [1].

Jan 22, 2026 – President Lee Jae‑Myung posts on X that extending the heavy capital‑gains‑tax exemption for multiple‑home owners is “not under consideration,” reaffirming the May deadline and condemning the fairness of a three‑year exemption [16].

Jan 24, 2026 – Lee announces that the increased capital‑gains tax for multiple‑home owners will take effect on May 9, 2026, stressing that the government will move forward despite continued price rises [15].

Jan 25, 2026 – Lee reiterates on X that the exemption will expire on May 9 as set in February 2025, calling it an “unfair benefit from an abnormality” and saying a cabinet meeting will consider a grace period for pre‑May deals [14].

Jan 26, 2026 – Lee officially decides not to extend the multi‑home tax exemption, notes its origin in May 2022, and warns that speculative buying could repeat Japan’s “lost three decades” if left unchecked [13].

Jan 27, 2026 – At a cabinet meeting, Lee vows to curb excess capital inflows into housing, cites Japan’s prolonged stagnation as a caution, and confirms the May 9 expiry of the multiple‑home tax break while pledging broader supply‑side measures [12].

Feb 1, 2026 – Lee reaffirms the May 9 termination of the tax suspension, warns opponents not to “unfairly outsmart” the government, and declares “no government can beat the market, but no market can beat the government either” as he prepares to enforce the policy [11].

Feb 3, 2026 – Lee posts that he will stop real‑estate speculation “by any means,” labeling it “utterly absurd,” and explains that the May 9 lapse will raise capital‑gains rates up to 75 % with surcharges for multiple properties [8].

Feb 3, 2026 – Finance Minister Koo Yun‑cheol announces the exemption will end on May 9, proposes a grace period of up to three months for Gangnam/Yongsan and up to six months for newly designated speculative zones, and urges owners to act now to avoid heavier taxes [9].

Feb 4, 2026 – Lee urges prioritizing home‑buyers over multiple‑home owners, notes daily X posts urging market cooling, and says the cabinet will consider a three‑ to six‑month grace period for pre‑May sales to mitigate a potential 75 % tax burden [7].

Feb 5, 2026 – Lee warns multi‑home owners that the tax break ends May 9, cautions against “moving up” to luxury homes for profit, and uses the Wirye corruption case to criticize prosecutors, emphasizing that only residential moves are acceptable [6].

Feb 5, 2026 – Finance Minister Koo says supplementary measures to ease the tax change will be unveiled the following week, including protections for renters and landlords and possible grace periods of three months in Gangnam/Yongsan and six months in other zones [5].

Feb 16, 2026 – Lee calls for stripping tax and regulatory perks from multiple‑home owners, argues their investments fuel shortages and price hikes, and urges them to sell before the May deadline, framing the policy as a fairness issue [4].

Feb 24, 2026 – The cabinet approves a revision to the Income Tax Act enforcement decree, ending the temporary exemption and reinstating a maximum 75 % capital‑gains tax on sales of multiple homes in speculative areas effective May 9, with four‑ to six‑month grace periods for tenant‑occupied units in designated districts [1][2].

Feb 24, 2026 – President Lee tells multiple‑home owners they must face the risks of a normalizing market, notes the government has tools but needs resolve, and reminds them the heavy tax exemption ends in May, urging sales before the deadline [3].

May 9, 2026 – The reinstated 75 % maximum capital‑gains tax on multiple‑home owners takes effect across designated speculative zones, ending the four‑year exemption; surcharges of 20 % for two homes and 30 % for three homes apply, while any grace periods for pre‑May transactions depend on final cabinet decisions [1][9][10].