Jungnang-gu, 2020 Individual Housing Price Survey

April 29, 2020 Individual Housing Price Determination and Announcement... Procedures Including Individual Housing Characteristic Survey, Calculation, Inspection, and Objection for 19,220 Households in the Area

[Asia Economy Reporter Jongil Park] Jungnang-gu (Mayor Ryu Kyung-gi) is conducting the "2020 Individual Housing Price Survey" targeting 19,220 single-family, multi-family, and mixed-use residential units in the area.

This survey began with an individual housing characteristic survey conducted since last October, followed by price estimation and verification of individual houses. From March 19 to April 8, price viewing and submission of opinions will be accepted, and the individual housing prices will be determined and announced on April 29.

Afterwards, from April 29 to May 29, objections will be accepted and processed, and the final prices will be adjusted and announced on June 26.

The announced housing prices will be used as the standard market price for local taxes such as acquisition tax and property tax (housing), as well as national taxes including comprehensive real estate holding tax and capital gains tax (housing). The individual housing prices are determined and announced by the Jungnang-gu Office Mayor.

On the other hand, prices for apartments, row houses, and other multi-family housing are determined and announced by the Minister of Land, Infrastructure and Transport.

If there are any opinions or objections regarding the announced housing prices, they can be submitted through the Jungnang-gu Office Tax Comprehensive Civil Service Office, each neighborhood community center, or the price viewing website (http://kras.seoul.go.kr/land_info).

Submitted opinions and objections will be re-investigated by the responsible officials and the Korea Appraisal Board, and the Jungnang-gu Real Estate Price Announcement Committee will decide whether to accept them, after which the applicant will be notified.

For other inquiries related to the individual housing price survey, please contact the Jungnang-gu Office Tax Division 1 at ☎2094-1314 for detailed guidance.