Seoul's Individual Official Land Price Rise Rate This Year 11.54%... Highest Land Price 'Myeongdong Nature Republic'

Overall 97.8% Increase... Gangnam-gu > Yeongdeungpo-gu > Gangseo-gu > Seocho-gu Order
Nation's Highest Land Price 'Myeongdong Nature Republic'... Over 200 Million KRW per ㎡
Most Expensive Residential Land 'Acro River Park'
Objections Accepted Until the 30th of Next Month

[Asia Economy Reporter Kim Hyemin] The individual publicly announced land price increase rate in Seoul this year recorded 11.54%. Among districts, Gangnam-gu, Yeongdeungpo-gu, and Gangseo-gu showed significant increases.

Seoul City announced on the 30th that it will decide and publicly announce the individual publicly announced land prices for 879,402 parcels surveyed as of January 1 this year on the 31st.

The individual publicly announced land price increase rate rose 11.54% compared to last year, showing a higher increase rate than the previous year (8.25%). Land prices increased for 97.8% (860,024 parcels) of the total, while only 0.4% (3,751 parcels) decreased. 0.5% (4,824 parcels) remained stable, and 1.2% (10,839 parcels) were newly surveyed.

By district, Gangnam-gu had the highest increase rate at 14.1%. This was followed by Yeongdeungpo-gu at 13.9%, Gangseo-gu at 12.75%, Seocho-gu at 12.17%, and Seodaemun-gu at 12.17%. Songpa-gu (11.98%), Seongdong-gu (11.85%), and Geumcheon-gu (11.85%) also exceeded the average. The lowest increase rate was in Dobong-gu at 8.08%.

The highest publicly announced land price in Seoul was the Nature Republic store site at 24-2, Chungmuro 1-ga, Jung-gu, which has held the highest land price since 2004. The publicly announced land price here was 206.5 million KRW per square meter, a 3.76% increase from last year (199 million KRW).

The lowest land price was at San 30 (natural forest), Dobong-dong, Dobong-gu, at 6,970 KRW per square meter.

For residential areas, the site of Acro River Park located in Banpo-dong 2-12, Seocho-gu, was priced at 26.7 million KRW per square meter.

Individual publicly announced land prices can be checked by entering the land location on the Seoul Real Estate Information Plaza or the 'Ilsa Pyeonri Seoul Real Estate Information Inquiry System.'

If there are objections, an objection form can be submitted by the end of next month through the Ilsa Pyeonri Real Estate Integrated Civil Petition system or in writing, by mail, or fax to the district office or community service center. For lands with objections, a re-investigation of land characteristics will be conducted, followed by verification by an appraiser and review by the district real estate price announcement committee. The results will be re-decided and publicly announced on July 30.

Seoul City plans to operate an appraiser consultation system during the objection period. Appraiser consultation desks will be established and operated according to each district’s circumstances so that citizens with questions can receive direct consultations. For telephone consultations, requests can be made to the Seoul 120 Dasan Call Center.

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