Gyeonggi-do, 2.78% Increase in Standard Land Price for 2025 Announcement

The official land prices of 74,356 standard land parcels in Gyeonggi Province have increased by 2.78% compared to the previous year (2.92% nationwide). The official land price of standard land serves as the basis for the investigation and calculation of individual official land prices.

The recently announced official land prices of standard land were finalized by the Ministry of Land, Infrastructure and Transport after about five months of investigation by appraisers affiliated with the Korea Real Estate Board and appraisal corporations starting from August last year, hearing opinions from landowners and city/county/district offices, and deliberation by the Central Real Estate Price Public Announcement Committee.

The official land price of standard land is evaluated and announced annually as of January 1st to provide appropriate land prices, serving as the basis for calculating individual official land prices, land appraisal, and providing land price information in the land market.

By city/county/district, Hanam-si and Yongin-si (3.96%) recorded the highest increase rates.

Gyeonggi Provincial Government

The main reasons for the increase were analyzed as ▲large-scale development projects such as the 3rd New Town (Hanam-si) ▲creation of a semiconductor national industrial complex (Yongin-si) ▲progress in the Daejang district development project and creation of the Nakseong public housing district (Bundang-gu, Seongnam-si) ▲progress in the 2nd Pangyo Techno Valley and housing redevelopment projects (Sujeong-gu, Seongnam-si) ▲and the creation of the 3rd New Town (Siheung).

On the other hand, Dongducheon-si (0.75%), Yeoncheon-gun (0.95%), and Pocheon-si (1.16%) showed only slight increases. This is attributed to the continued stagnation of the real estate market in the northern Gyeonggi region.

The official land prices of standard land can be viewed at the Ministry of Land, Infrastructure and Transport and the civil service offices of the cities/counties/districts where the standard land is located from the 24th of this month to the 24th of next month. During the same period, objections can be filed at the respective city/county/district civil service offices or the Ministry of Land, Infrastructure and Transport (Real Estate Appraisal Division).

For standard land parcels with submitted objections, after in-depth review by an external inspection team composed of experts such as appraisers and professors and deliberation by the Central Real Estate Price Public Announcement Committee, adjustments and announcements will be made on March 14th if changes are necessary.