76% of Houses Valued at 300 Million Won or Less
Objection Applications Accepted Until May 29
The Daejeon city government announced that it will officially disclose the prices of a total of 73,507 individual houses (including single-family and multi-family homes) as of January 1, 2025, on April 30.
This year, the average price of individual houses in Daejeon rose by 1.04% compared to the previous year. By district, the increases were as follows: Yuseong-gu 1.28%, Seo-gu 1.16%, Jung-gu 0.89%, Daedeok-gu 0.88%, and Dong-gu 0.72%.
The city explained that, as the official price realization rate has been frozen for a second consecutive year, house prices increased only by the rate reflecting changes in the actual market value. The official price realization rate is determined annually by the Ministry of Land, Infrastructure and Transport and is currently maintained at the 2020 level.
By price range, houses valued at 300 million won or less accounted for 55,906 units (76%), those priced over 300 million won up to 600 million won accounted for 13,747 units (18.7%), and those over 600 million won totaled 3,854 units (5.3%).
By housing type, single-family homes made up the largest share with 32,411 units (44.1%), followed by houses in mixed-use buildings with 26,215 units (35.7%), multi-family homes with 12,826 units (17.4%), boarding houses with 1,672 units (2.3%), and other types with 383 units (0.5%).
Individual house prices can be viewed on the Real Estate Price Disclosure System, as well as at the tax departments of each district office and administrative welfare centers. Homeowners and others who wish to file an objection to the price may do so from April 30 to May 29 via the Real Estate Price Disclosure System website or at the tax department of the district office and administrative welfare centers where the house is located.
For individual houses for which objections are submitted, the appropriateness of the determined price will be re-examined. After verification by the Korea Real Estate Board and review by the district office’s Real Estate Price Disclosure Committee, the adjusted prices will be officially announced and individually notified on June 26.
Cho Jungyeon, Daejeon City’s tax affairs officer, said, "Individual house prices are important data used for a variety of administrative purposes, including providing price information for the housing market, levying property taxes, welfare administration, and as a standard for purchasing National Housing Bonds. We ask for the active interest of our citizens."
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