Yeonsu-gu, Incheon Official Land Value Surpasses 66 Trillion Won... Old Downtown Growth Rate Exceeds Average

The total officially assessed land value in Yeonsu-gu, Incheon has surpassed 66 trillion won for the first time in the 30 years since the district's establishment.

On April 30, Yeonsu-gu announced that the officially assessed standard land price and the rate of change for individually assessed land values, including both private and public land, rose by 1.81% compared to the previous year. The total value was calculated at 66.776 trillion won.

The individually assessed land value is the price per unit area (KRW/㎡) of land publicly announced by the mayor, county governor, or district chief, and is used as the basis for various taxes, including national and local taxes.

By region, Cheonghak-dong recorded a 2.61% increase, while Yeonsu-dong rose by 2.18%, Okryeon-dong by 1.89%, Dongchun-dong by 1.83%, and Seonhak-dong by 1.80%. These rates in the original downtown areas were higher than the average rate of change for Yeonsu-gu (1.81%).

The district analyzed this as a positive sign that both the original downtown areas and the new Songdo International City in Yeonsu-gu are growing steadily together. The location with the highest individually assessed land value in Yeonsu-gu was Songdo-dong 4-1, recording 5.76 million won per square meter.

The newly announced individually assessed land values can be checked on the 'Real Estate Price Information Service.' Landowners or interested parties who have objections to the assessed values may submit an objection form to the Yeonsu-gu Land Information Division by May 29 of next month.

Meanwhile, the district is operating a free consultation service with certified appraisers to protect residents' property rights and provide support, allowing those who file objections to receive advice on the assessed land values.

Lee Jaeho, head of Yeonsu-gu, stated, "Surpassing 66 trillion won in officially assessed land value is evidence of the district's urban competitiveness and future value," adding, "We will continue to implement tangible policies so that both the old downtown and the new city can develop in harmony."

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