Daejeon City Announces Individual Housing Prices Decision and Public Notice with an Average Increase of 5.01% Compared to Last Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will announce the prices of 78,437 individual houses, including detached and multi-family houses, in the jurisdiction as of the 29th.

According to the city on the 28th, the individual housing prices in the Daejeon area this year are estimated to have increased by an average of 5.01% compared to the previous year. Among the five districts, Yuseong-gu showed the largest increase at 6.51%, followed by Seo-gu at 5.38%, Jung-gu at 4.81%, Dong-gu at 4.04%, and Daedeok-gu at 2.91%.

The higher formation of local individual housing prices compared to the previous year appears to be mainly influenced by the rise in standard housing prices. The standard housing price is the price investigated, calculated, and announced by the Minister of Land, Infrastructure and Transport every year based on January 1st, and it is applied as a basis for the city to calculate individual housing prices.

By housing price range, individual houses priced at 300 million KRW or less account for 61,649 units (78.6%), followed by 300 million KRW to 600 million KRW at 13,472 units (17.2%), and over 600 million KRW at 3,316 units (4.2%).

The number of houses announced by district is Seo-gu with 19,939 units (25.42%), Dong-gu with 18,935 units (24.14%), Jung-gu with 17,283 units (22.03%), Yuseong-gu with 11,580 units (14.76%), and Daedeok-gu with 10,700 units (13.64%).

By housing type, there are 36,157 detached houses, 25,919 houses within mixed-use residential buildings, 13,794 multi-family houses, 1,763 multiple houses, and 804 others.

The area with the highest price among detached houses is Doryong-dong in Yuseong-gu, recording an average of 1,441 million KRW.

Individual housing prices can be viewed on the city’s website or at the tax departments of the five district offices and the Dong Administrative Welfare Centers.

Housing owners who have objections to the announced housing prices must file an objection by the 28th of next month through the city website, the tax departments of the district offices where the house is located, or the Dong Administrative Welfare Centers.

Upon receiving objections, the city will re-investigate the appropriateness of the determined prices, verify them through appraisal experts, and after deliberation by the district office’s real estate price announcement committee, will announce adjustments and notify individuals on June 25th.

Meanwhile, prices for apartments, row houses, and multi-unit housing can be viewed and objections filed through the Ministry of Land, Infrastructure and Transport’s Real Estate Price Announcement Information website or at the tax departments of the relevant district offices and Dong Administrative Welfare Centers.

This content was produced with the assistance of AI translation services.