Buy One More House in the Provinces, Still 1 Homeowner! 'Second Home' Special Exemption Regions Summary (2025 Latest Edition)
"I have one house in Seoul, if I buy another small house in Gangneung or Sokcho for weekend use, will I become a 2-homeowner?"
Until now, the answer was 'Yes', but now it can be 'No'. This is because the government's 'Second Home' policy, introduced to prevent regional extinction and increase the floating population, has been significantly expanded. Now, even if you own one home in a large city like Seoul, if you buy another home in a specific region, you will be considered a '1-household 1-homeowner' for tax purposes. We will summarize in an easy-to-understand way which regions are eligible and what benefits are available.
'Second Home' Special Exemption, What Are the Benefits?
The core is **'tax benefits'**. Even if a person with one apartment in Seoul purchases an additional home in a newly designated special exemption area with a public price of ₩900 million or less, they will still be considered a 1-homeowner for tax calculation purposes.
- Capital Gains Tax: You can still receive the non-taxable benefit (up to ₩1.2 billion) when selling your existing home.
- Comprehensive Real Estate Holding Tax: The 1-homeowner tax rate applies, not the multiple-homeowner heavy tax rate.
- Property Tax: You can maintain the 1-homeowner tax rate exemption.
In short, a path has been opened to acquire a 'second home' in the provinces without the burden of taxes.
Is My Neighborhood Included? Full List of 'Second Home' Special Exemption Areas
The biggest change in this policy is the expansion of target areas. In addition to the existing 83 'population-decline areas', **9 'population-decline interest areas'** that are at risk of extinction have been newly included.
✅ Newly Included! Population-Decline Interest Areas (9 places)
| Gangwon Special Self-Governing Province | Jeonbuk Special Self-Governing Province | Gyeongsangbuk-do | Gyeongsangnam-do |
|---|---|---|---|
| Gangneung City | Iksan City | Gyeongju City | Sacheon City |
| Donghae City | Gimcheon City | Tongyeong City | |
| Sokcho City | |||
| Inje County |
✅ Existing Benefits! Non-Metropolitan Population-Decline Areas (80 places)
| Busan | Daegu | Incheon | Gangwon | Chungbuk | Chungnam | Jeonbuk | Jeonnam | 경북 | Gyeongnam |
|---|---|---|---|---|---|---|---|---|---|
| Dong-gu | Nam-gu | Ganghwa-gun | Pyeongchang-gun | Jecheon-si | Gongju-si | Gochang-gun | Damyang-gun | Andong-si | Geochang-gun |
| Seo-gu | Seo-gu | Ongjin-gun | Jeongseon-gun | Danyang-gun | Nonsan-si | Buan-gun | Gokseong-gun | Yeongju-si | Goseong-gun |
| Yeongdo-gu | Samcheok-si | Boeun-gun | Gyeryong-si | Imsil-gun | Gurye-gun | Yeongcheon-si | Namhae-gun | ||
| Hongcheon-gun | Yeongdong-gun | Geumsan-gun | Sunchang-gun | Boseong-gun | Sangju-si | Sancheong-gun | |||
| Hoengseong-gun | Okcheon-gun | Buyeo-gun | Jangsu-gun | Jangheung-gun | Mungyeong-si | Uiryeong-gun | |||
| Yeongwol-gun | Goesan-gun | Seocheon-gun | Jinan-gun | Gangjin-gun | Uiseong-gun | Changnyeong-gun | |||
| Taebaek-si | Cheongyang-gun | Muju-gun | Haenam-gun | Yeongyang-gun | Hadong-gun | ||||
| Goseong-gun | Yesan-gun | Yeongam-gun | Yeongdeok-gun | Haman-gun | |||||
| Yangyang-gun | Taean-gun | Shinansan-gun | Goryeong-gun | Hamyang-gun | |||||
| Hampyeong-gun | Seongju-gun | Hapcheon-gun | |||||||
| Wando-gun | Yecheon-gun | ||||||||
| Jindo-gun | Bonghwa-gun | ||||||||
| Ulchin-gun | |||||||||
| Ul_leung-gun |
Conditions and Precautions You Must Know!
Of course, benefits do not apply in all cases. The following key conditions must be checked:
- House Price: The second home to receive the special exemption must be **valued at ₩900 million or less** according to public assessment (market price approximately ₩1.2 billion).
- For 1-Household 1-Homeowner: This system applies only if a person **who already owns 1 home** buys an additional home in the provinces. It does not apply to non-homeowners buying two homes, or multi-homeowners who already own two or more homes.
- Cannot Purchase Additionally Within the Same Region: **The existing home and the second home cannot be in the same population-decline area.** For example, if someone already has a house in Pyeongchang and buys another house in Pyeongchang, they become a 2-homeowner. However, it is fine for someone with a house in Seoul to live in Pyeongchang.
Additional Benefits to Resolve Unsold Provincial Housing
In addition to the 'Second Home' policy, the government has also introduced additional tax incentives to resolve the issue of unsold housing in the provinces.
- Target: If a 1-homeowner purchases an **unsold housing unit completed after construction** (dedicated area 85㎡, acquisition cost ₩600 million or less) in the provinces.
- Benefit: The 1-household 1-homeowner tax benefits will still apply, and acquisition tax will be reduced by up to 50% for one year.
This expanded 'Second Home' policy is an unprecedented measure to relieve overpopulation in the Seoul metropolitan area and inject new vitality into the regions in crisis. If you dream of a leisurely rural life after retirement, or want a 'private hideaway' where you can comfortably relax on weekends or holidays, why not take this opportunity to realize your dream of a 'second home' without the tax burden?
#SecondHome #ProvincialHousing #1Household1Home #RealEstate #TaxBenefits #CapitalGainsTax #ComprehensiveRealEstateHoldingTax #PropertyTax #PopulationDeclineAreas #RuralRelocation #VacationHome #RuralHouse #ProvincialInvestment #RealEstatePolicy #HomeOwnership #FinancialTech #Gangneung #Sokcho #Gyeongju #Tongyeong
