Come next year, the transfer income tax rate to be levied on lands last transacted less than a year earlier will rise to 70 percent of the proceeds of the sale from the current 50 percent. 

Finance Minister Hong Nam-ki on Monday announced a set of anti-speculation measures drafted amid the controversy over alleged real estate irregularities involving public officials. 

Meanwhile, the transfer income tax on lands that last exchanged hands between one and two years earlier is set to rise to 60 percent of the profit starting next year, up 20 percentage points. 

The government will also extend the loan-to-value ratio(LTV) regulation on mortgage loans involving non-residential real estate. Those buying a larger plot of land will be required to submit to authorities a plan on how they plan to finance the purchase. 

Mandatory wealth registering, which is currently required of fourth-grade or higher public officials, will also be expanded to every public servant.