Paju-si, Standard Land Price Rises 2.03% This Year... Lower Than Gyeonggi-do Average

Standard Land Price in Paju to Be Announced on the 24th
Will Serve as Basis for Official Land Price Calculation for 300,000 Parcels to Be Released on April 30

The official land price of standard land in Paju City, Gyeonggi Province (Mayor Kim Kyung-il) increased by 2.03% compared to last year. This figure is slightly lower than the national average official land price increase of 2.93% and Gyeonggi Province's 2.78% increase.

Paju City Hall exterior. Provided by Paju City

According to Paju City on the 15th, the increase rates by land use area were 1.97% for residential areas, 2.56% for commercial areas, 2.01% for management areas, and 1.35% for agricultural and forest areas. This reflects a realization rate of 65.5%, which is at the 2020 level, in accordance with the Ministry of Land, Infrastructure and Transport's 'Plan to Reestablish the Realization of Real Estate Official Prices.'

The official land price of standard land is the price per unit area of standard land surveyed and evaluated by the Ministry of Land, Infrastructure and Transport, and it serves as the basis for calculating the individual official land prices of approximately 300,000 parcels in Paju City, which are scheduled to be announced on April 30, 2025.

Paju City selected 4,070 parcels as standard land, an increase of 138 parcels from 3,932 parcels last year, to improve the accuracy of the official land price and to ensure balanced official land price calculation.

The Ministry of Land, Infrastructure and Transport plans to decide and announce the official land price of standard land on the 24th. This information can be viewed on the Real Estate Official Price Notification website. Owners of standard land can file objections with the Ministry of Land, Infrastructure and Transport until February 24.

Kim Young-gi, head of the Real Estate Division, said, “Since the official land price is used as the basis for various taxes, charges, and public land lease fees, we will strive to ensure more accurate and reasonable land price calculations.”