Seongnam City Announces Individual Official Land Prices for 84,144 Parcels... Objections Accepted Until Next Month 29

Seongnam City in Gyeonggi Province announced the individual official land prices for 84,144 parcels as of January 1, 2024, on the 30th.

Seongnam City will conduct a public inspection of the individual official land prices and accept objections from landowners and stakeholders until May 29.

This year, the highest land price in Seongnam was recorded at 29.1 million KRW per 1㎡ for the site of Hyundai Department Store at 541 Baekhyeon-dong, Bundang-gu. This location recorded the highest land price in Gyeonggi Province.

The individual official land prices increased by 2.03% compared to the previous year, reflecting the realization of land prices due to various development projects such as redevelopment in old downtown areas and the creation of public housing districts.

Seongnam City Hall

The area with the highest increase rate was Bokjeong-dong, Sujeong-gu (7.12%), while the lowest increase rate was Galhyeon-dong, Jungwon-gu (0.31%). By land use zone, the green area in Sujeong-gu showed the highest increase rate at 6.15%, and the development-restricted zone in Bundang-gu showed the lowest at 0.09%.

Verification of individual official land prices and filing objections can be done through the Real Estate Public Price Information website (www.realtyprice.kr), Seongnam City’s official website, visiting the citizen service departments of each district office, or each dong administrative welfare center, or by mail. The results of the objection processing will be individually notified to applicants in June.

A Seongnam City official stated, "To enhance citizens’ trust, we plan to operate a civil consultation system with certified appraisers and a citizen participation system for land objections, providing opportunities for landowners and stakeholders to participate."