Finance Minister Choo Kyung-ho said on Sunday that the government will lift real estate regulations for additional areas next month.

Appearing on a KBS program, the minister said that the government will also submit to the National Assembly in February a revision bill aimed at easing heavy property acquisition taxes on multiple homeowners.

Minister Choo expressed hope that these moves will help curb the sharp decline in the property market.

In November, real estate restrictions were lifted in all areas except Seoul and some areas in Gyeonggi Province.

The minister said that the government will announce next month the removal of property regulations such as speculative areas.