The South Korean government and ruling Democratic Party(DP) are expected to put forth yet another set of anti-speculation measures centered on raising the comprehensive real estate holding tax for multiple homeowners.

According to DP and government sources on Thursday, the measures will be announced Friday and a bill to revise real estate taxes, including the comprehensive tax, will be submitted to the National Assembly early next week.

Ruling party sources said the DP and the government are determined to curb soaring housing prices, giving serious thought to nearly doubling the rate cap from the current three-point-two percent to six percent.

The six-percent cap is higher than the four-percent limit the government had announced in its real estate package last December.

The ruling camp may opt to lower the property value baseline for tax rates or introduce a new tax bracket to increase the burden for multiple homeowners.