Standard Market Value for Officetels and Commercial Buildings to Fall Nationwide Next Year... Seoul Alone Sees Increase

National Tax Service Announces 2026 Standard Market Value for Officetels and Commercial Buildings
Top Officetel: 'ASTY Nonhyeon' in Gangnam at 15.97 Million Won per 1㎡
Highest Commercial Building: 'Jamsil Jugong 5 Complex Shopping Center' at 28.12 Million Won per 1㎡

Due to the effects of high interest rates and the economic downturn, the standard market value for officetels and commercial buildings has declined for the coming year. Despite the nationwide downward trend, Seoul alone saw an increase.

The National Tax Service announced on December 31, 2025, the regular notice of the 2026 'Standard Market Value for Officetels and Commercial Buildings' and the 'Calculation Method for Building Standard Market Value' for general buildings that are not individually notified.

The standard market value is used when the market price is unknown for the purposes of levying inheritance and gift taxes on officetels and commercial buildings. It does not apply to holding taxes such as the comprehensive real estate tax or property tax, nor to social insurance premiums such as health insurance contributions.

The total number of properties announced this time is 2.49 million units (1.33 million officetels and 1.16 million commercial buildings), up 3.5% from the previous year. The average standard market value for officetels fell by 0.63% compared to the previous year, while that for commercial buildings dropped by 0.68%.

Officetels experienced declines in most regions nationwide, including Jeonnam (-5.75%), Daegu (-3.62%), and Chungnam (-3.48%), due to high interest rates and the economic downturn. In contrast, Seoul saw a 1.10% increase, driven by the substitution effect with apartments and rising prices for officetels near subway stations and larger units. This marks the second consecutive year of increase, following a 1.36% rise in 2025.

For officetels, the highest standard market value per square meter for the second consecutive year was recorded by 'ASTY Nonhyeon' in Gangnam-gu at 15,967,000 won. This was followed by 'Sangji Kailum M' in Nonhyeon-dong, Gangnam-gu at 14,766,000 won, 'THE POEM' at 14,457,000 won, and 'The Rivers Cheongdam' at 13,111,000 won.

The standard market value for commercial buildings also declined in Sejong (-4.14%) and Ulsan (-2.97%) due to oversupply and increased vacancy rates resulting from a slump in commercial districts. Seoul (0.30%) posted a second consecutive year of increase, attributed to rising demand for Gangnam office space, expectations for redevelopment and reconstruction, and an increase in foreign tourists.

For commercial buildings, the highest standard market value per square meter for the second year in a row was 'Jamsil Jugong 5 Complex Shopping Center' in Songpa-gu at 28,119,000 won. 'Dongdaemun General Shopping Center D-dong' in Jongno-gu, which held the top spot in 2024, recorded the second highest value at 21,876,000 won.

Owners or interested parties who have objections to the standard market value may apply for a reassessment. Applications for reassessment are accepted from January 2 to February 2 of the following year. The National Tax Service will re-investigate the submitted properties and notify the results by February 27, 2026.