Chungnam 'Official Land Price' Average Up 0.85%... Objections Accepted Until Next Month

Cheonan·Asan Central Official Land Price Increase
Objections Possible Until Next Month 23

Chungnam Province announced on the 29th that the official land price of standard land in the area as of January 1 this year increased by an average of 0.85% compared to the previous year.

The land with the highest standard land price in the region is the same as last year, located in Sinbu-dong, Dongnam-gu, Cheonan-si (lot 454-5), at 11.02 million KRW per 1㎡. Conversely, the lowest price was set at 358 KRW per 1㎡ in Banam-ri, Yangchon-myeon, Nonsan-si (San 35).

The areas in Chungnam with the largest rate of change were Asan-si (1.64%), which has high development demand, and Cheonan-si's Seobuk-gu (1.24%) and Dongnam-gu (1.12%). The lowest rate of change was recorded in Geumsan-gun at -0.03%.

The national average rate of change was identified as 1.09%. Among regions, the highest rate of change was Sejong (1.59%), and the lowest was Jeju (-0.45%).

In the Chungcheong area, Daejeon showed a rate of change of 1.26%, Chungbuk 0.71%, and neighboring Gyeonggi and Jeonbuk showed rates of 1.35% and 0.21%, respectively.

The official land price of standard land can be viewed at the cadastral departments of city and county offices or through the Ministry of Land, Infrastructure and Transport's Real Estate Price Notification Service. Objections can be submitted online, by fax, or by mail through the Ministry of Land website until the 23rd of next month. It is also possible to submit objections by visiting the cadastral department of the respective city or county directly.

Meanwhile, the official land price of standard land was determined after the Ministry of Land conducted a five-month investigation starting in August last year with appraisers from the Korea Real Estate Board and appraisal corporations, followed by deliberations by the Central Real Estate Price Public Notice Committee.

Chungnam Province analyzed that this year's official price applied the "2020 level of realization rate," which is prior to the establishment of the realization plan, in accordance with the government's plan to reestablish the real estate official price realization plan announced last year.

The official land price of standard land serves as the basis for calculating the individual official land price, which will be decided and announced on April 30.