Gyeonggi-do Sees 9.59% Rise in Individual Official Land Prices... Hanam-si Tops at 16.53%

[Asia Economy (Suwon) = Reporter Lee Young-gyu] This year, the individual publicly announced land prices in Gyeonggi-do increased by an average of 9.59% compared to the previous year. During the same period, the nationwide increase was 9.93%, and the Seoul metropolitan area rose by 10.47%.

Gyeonggi-do announced the individual publicly announced land prices for 4.83 million parcels in the province as of January 1 this year on the 29th.

The area with the highest increase in individual publicly announced land prices compared to the previous year was Hanam-si, where many development projects such as Gyosan New Town are underway, rising by 16.53%.

Next, Sujeong-gu in Seongnam-si rose by 14.38% due to the creation of public housing districts in Bokjeong, Geumto, and Sinchon and the promotion of the Sanseong district development project, and Gwangmyeong-si increased by 12.8% influenced by the planned designation of the Gwangmyeong-Siheung 3rd New Town and the commencement of the high-tech industrial complex urban development project.

On the other hand, Ilsandong-gu in Goyang-si (5.68%), Paju-si (6.03%), and Dongducheon-si (6.37%) showed relatively low growth rates.

The most expensive land in the province was, as in the previous year, the site of Hyundai Department Store in Baekhyeon-dong, Bundang-gu, Seongnam-si, priced at 29.25 million KRW per 1㎡. Conversely, the cheapest place was forest land in Samjeong-ri, Sinbuk-myeon, Pocheon-si, at 592 KRW per 1㎡.

The individual publicly announced land prices can be directly checked at city, county, and district offices starting from the 29th of this month. From early May, the prices can be viewed on a map-based system through the Gyeonggi Real Estate Portal.

Landowners or interested parties who have objections to the determined land prices can file an objection with the city, county, or district office where the land is located by the 30th of next month.

Hong Ji-seon, Director of the Urban Housing Office of the province, stated, "Since individual publicly announced land prices are used as the basis for imposing national and local taxes related to land, such as comprehensive real estate tax, property tax, and acquisition tax, as well as various charges, we will continue to conduct accurate land characteristic surveys and fair price verification by professional appraisers."

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