The Democratic Party and the People Power Party are moving toward passing an amendment to South Korea's urban redevelopment law at next week's plenary session. Proposals would allow general redevelopment and rebuilding projects to reach 1.1 times the legal floor area ratio cap, and projects near subway stations to reach 1.3 times the cap. With private developers responsible for 83.4% of housing construction starts in Seoul last year, analysts see higher density allowances as important to expanding supply. The briefing also highlights a correction in high-end Gangnam housing: the lowest asking price for a 183-square-meter unit at Apkujeong Shinhyundai has fallen to 8.59 billion won, 4.21 billion won, or 32.9%, below its December peak of 12.8 billion won. Prices at Banpo Xi and Acro River Park have also been reduced. Korea Real Estate Board data showed apartment prices in Gangnam-gu and Seocho-gu fell 0.05% and 0.09%, respectively, in the third week of August, while Seoul overall rose 0.22%. A Democratic Party tax-reform simulation indicated that only homes valued at 40 billion won or more would face higher taxes, while homes in the 2 billion-to-3 billion-won range could receive relief, intensifying internal debate over the scope of property-tax increases. Other investor-focused developments include the planned sale of Rene Square, a 18,254-pyeong office building fully leased by the Serious Crimes Investigation Agency; disagreement between the Land, Infrastructure and Transport Ministry and Seoul City over housing at Yongsan Park; and Korea Housing & Urban Guarantee Corporation proposals for a 4% annual return and principal protection under its rental safe trust program, alongside a possible reduction in residential rental-income tax from 14% to a single-digit rate.