South Korea is reviewing Comprehensive Real Estate Tax relief to expand long-term corporate and REIT rental housing as Seoul's apartment monthly rent reached 1.62 million won in July, the first time the measure exceeded 1.6 million won since records began. Monthly rent accounted for 68.3% of nationwide housing lease transactions from January through July and 69.7% in Seoul, while Seoul's new construction-type rental supply fell 81% from 21,115 units in 2021 to 3,976 in 2024. The Ministry of Land, Infrastructure and Transport is considering tax benefits for corporations that buy newly built homes and lease them for at least 20 years, including Comprehensive Real Estate Tax aggregation exclusions and a 300 million won increase in the assessed-value threshold for qualifying rental housing in non-adjustment zones. Industry participants say tax relief alone may not offset Seoul's high land, project and financing costs. Younger households face additional pressure as nominal monthly income for household heads aged 39 or younger fell 1.7% year over year while housing expenditure rose 11.6%.