Gyeonggi-do Publishes White Paper on 'Curious Gyeonggi-do Real Estate Stories'

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province has published a white paper titled "Curious Stories of Gyeonggi Province Real Estate," which compiles the actualization rates of publicly announced prices for real estate transactions last year.

The actualization rate is an indicator representing the ratio of actual transaction prices to publicly announced prices. Since last year, Gyeonggi Province has been analyzing the average actualization rates of traded real estate by type and region on a monthly basis. This is the first time a local government has published a white paper on real estate topics such as the status of publicly announced prices and transaction trends.

The published white paper was prepared based on various reports and statistical data distributed by specialized institutions, as well as the monthly analysis results of actualization rates of publicly announced prices conducted by Gyeonggi Province.

It comprehensively covers everything from the overall concept of the real estate public announcement system, market trends of major real estate, the status of publicly announced prices in Gyeonggi Province, to the trends in actualization rate changes, allowing a clear overview of the real estate transaction trends and publicly announced price flows in Gyeonggi Province in 2021.

The white paper will be delivered to related organizations including the 31 cities and counties within the province and the Ministry of the Interior and Safety, and will be used as basic data necessary for improving systems related to publicly announced prices.

Oh Tae-seok, Director of the Provincial Autonomous Administration Bureau, stated, "The actualization rate of publicly announced prices remains at a low level due to reasons such as rising real estate prices," and added, "We hope that the white paper published by Gyeonggi Province will serve as a foundation to increase the actualization rate of real estate publicly announced prices and improve imbalances."

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