Average Volatility Rate Rises 4.53%p Above Last Year's 7.03%
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Daegu City has determined and announced the individual publicly notified land prices as of January 1, 2021, which serve as the basis for the imposition of national and local taxes and various charges, on the 31st. The total number of land parcels subject to determination and announcement is 431,027.
This year, the average change rate of Daegu City's individual publicly notified land prices was 11.56%, an increase of 4.53 percentage points from last year's 7.03%. It was 1.61 percentage points higher than the national average change rate (9.95%).
By region, Suseong-gu had the highest change rate at 16.08%. This was followed by Seo-gu at 13.03%, Jung-gu at 11.48%, Buk-gu at 11.43%, Dong-gu at 11.32%, Nam-gu at 11.06%, and Dalseong-gun at 9.92%. Dalseo-gu had the lowest rate at 8.36%.
The main reasons for the increase include the rise in the standard land price reflecting the realignment plan for real estate official prices, various development projects such as reconstruction and redevelopment actively underway in each district and county, real estate market conditions due to demand, and the cancellation of long-term unexecuted urban planning facilities.
In particular, the designation of the Yeonho public housing district, the decision of the Seodaegu Industrial Complex regeneration project district, the groundbreaking of the Seodaegu KTX station, and the construction of the outer ring expressway are also analyzed as causes for the increase due to large-scale development projects.
Based on the individual publicly notified land prices, the land with the highest price in the Daegu area is located at 162, Dongseongno 2-ga, Jung-gu, where the Bar Association Hall is situated, priced at 40.3 million KRW per square meter, while the land with the lowest price is forest land at San 135-2, Jeongdae-ri, Gachang-myeon, Dalseong-gun, north of Heolti-jae, priced at 352 KRW per square meter.
The individual publicly notified land prices determined and announced this time can be viewed at the civil service offices of the district or county (Land Information Division or Eup/Myeon/Dong offices) where the land is located and on the district or county websites until June 30.
Regarding objections, Kim Chang-yeop, Director of the Urban Regeneration Bureau of Daegu City, stated, "The district mayor or county governor will review the objections, and after a detailed verification by an appraiser and deliberation by the district or county real estate price notification committee composed of experts, the results will be individually notified by July 27."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
