Yeonsu-gu, Incheon announced on the 3rd that the total number of real estate transactions reported to the district last year was 17,753, an increase of 66% compared to the previous year.
According to the Ministry of Land, Infrastructure and Transport's Real Estate Transaction Management System, by transaction type, apartments and non-apartment residential real estate accounted for 13,723 cases (77.3%), the highest, followed by commercial (office) and industrial (factory) properties with 2,826 cases (15.92%), and land with 946 cases (5.33%).
By legal dong, Songdo-dong showed the highest transaction volume with 11,235 cases (63.3%). This was followed by Ongnyeon-dong with 2,972 cases (16.7%), Dongchun-dong with 1,654 cases (9.3%), Yeonsu-dong with 928 cases (5.3%), Cheonghak-dong with 729 cases (4.1%), and Seonhak-dong with 235 cases (1.3%).
The 'Real Estate Transaction Reporting System' is a system designed to increase transparency in real estate transactions and prevent illegal activities that may occur during the transaction process. Transactions must be reported to the relevant city, county, or district office either in person or online within 30 days from the contract date, including the actual transaction price. Failure to report or delayed reporting may result in a fine of up to 3 million KRW.
A Yeonsu-gu official urged, "To enhance the transparency of real estate transactions and efficiently carry out administrative tasks such as tax imposition, please make sure to report within the designated period."
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