Suwon’s Officially Assessed Land Values Rise 3.07%... Objection Period Open Until May 29

by Lee YeongKyu

Published 30 Apr.2026 07:40(KST)

The individual officially assessed land values in Suwon, Gyeonggi Province, have risen by 3.07% compared to the previous year. On April 30, Suwon City finalized and announced the officially assessed land values for 107,000 parcels within its jurisdiction as of January 1 this year.

The parcel with the highest individual land value is a commercial building in front of Exit 11 of Suwon Station, located at 61-1 Maesan-ro 1-ga, Paldal-gu, with a value of 18,750,000 won per square meter. The lowest value was set for San 103-3, Sangwanggyo-dong, at 6,230 won per square meter.

Urban development projects in Jangan-gu and Gwonseon-gu appear to have driven the increase in land values. In addition, the ongoing commercialization in Haenggung-dong, Paldal-gu, and the rise in standard land prices reflecting actual transaction prices in residential areas of Yeongtong-gu contributed to the increase. The rates of increase were 3.18% in Jangan-gu, 4.21% in Gwonseon-gu, 2.21% in Paldal-gu, and 2.44% in Yeongtong-gu.

Suwon City Hall

Suwon City will operate a period for viewing and filing objections from landowners and other interested parties (those affected in rights or interests) until May 29. To file an objection, individuals must visit the Land Management Team at the Land Management Department of the relevant district office and submit an objection form regarding the individual land value. The application forms are available at the civil affairs office of each district office.

Individual officially assessed land values are calculated based on an accurate investigation of land characteristics and the land price adjustment table.

On April 23, Suwon City determined the individual land values after review by the "Suwon City Real Estate Price Disclosure Committee for the 2026 Individual Official Land Value Determination."

The individual land values can be checked by searching for "individual officially assessed land value" in the search bar on the Suwon City website (www.suwon.go.kr). They can also be viewed on the Property Price Notification Service website (www.realtyprice.kr) and at the Land Management Team of the Land Management Department in the district office where the land is located.

For land parcels with objections filed, the appropriateness of the determined value will be re-investigated and, following review by the Suwon City Real Estate Price Disclosure Committee, adjustments and public announcement are scheduled for June 26. The finalized individual land values will be used as the basis for assessing national and local taxes related to land.