South Korea's chief economic policymaker said Friday the government is "cautiously" considering raising property taxes in yet another attempt to tame rising home prices.

Finance Minister Kim Dong-yeon said there are speculative demands in some areas such as the wealthy Gangnam Ward and adjacent districts.

"We have been reviewing many options in regard to a hike in property ownership tax," Kim said in a session with senior journalists at the press center in central Seoul.

There have been mounting worries that housing prices in Seoul have recently been rising excessively despite a series of measures to rein in surging prices, including tightened home mortgages for multiple home owners.