Gyeonggi-do Provincial Government Finds 166 People in Special Investigation Report on False Real Estate Sales

Gyeonggi Province said it has detected 166 people involved in a special investigation into 2,467 suspected cases of false reports of real estate sales and imposed a fine of about 400 million won.

The investigation was conducted from September to November this year on up-and-down contract reports, false reports on contract dates, trading reports between related relationships (relatives), inability to verify transaction prices, false reports of real estate transactions, and suspected gift transactions under the financing plan.

By type, eight "up contracts" for market price manipulation, four "down contracts" for capital gains tax reduction, and 154 real estate transaction delays and false reports.

As a major example, A, who reported selling a house in Bucheon for 150 million won to another person, was fined 5.6 million won along with the buyer after the investigation revealed that the actual transaction amount was 140 million won.Mr.

B was fined 680,000 won for rewriting the contract by changing the contract date to avoid a late reporting fine after signing the land sale contract in Guri.

In addition, the provincial government notified the tax authorities of 333 cases in which real estate sellers and buyers were identified as special relationships such as family members or relatives, or the sale price was significantly different from the market price.

By type, there are 134 cases of related trading, 43 cases of suspicious transaction price, 25 cases of non-confirmation of transaction price, 1 case of payment in substitutes, and 130 other cases, including suspected expedient gift.

Lee Gye-sam, head of the Gyeonggi-do Urban Housing Division, said, "We will thoroughly conduct a special investigation into suspected false reports next year to increase transparency in real estate transactions," adding, "We will strictly deal with the caught matters, including administrative dispositions and requests for investigation."