The Wall Street Journal has highlighted the South Korean government's latest real estate policies.
It published an article on Wednesday local time titled "Korea's Radical Housing- Boom Crackdown is a Sign of Things to Come".
The article predicted that if South Korea's latest measures to restrain its skyrocketing property prices turn out to be effective, other major real estate markets could follow suit.
The newspaper mentioned the country's hike in capital-gains tax for house flipping, and its increase in taxes on high-value multiple home owners and corporate property.
It added that Seoul is just one of many cities around the world that has seen a housing market bubble in recent years.