Yeongcheon’s 2026 Standard Land Value Rises 1.42%... Reflecting “Development Boosts” Like Racecourse Park

Moderate Increase Compared to National Average of 3.35% and Gyeongsangbuk-do’s 1.16%
Expectations for Land Price Growth Driven by Line 1 Extension and Racecourse Park Completion

The city of Yeongcheon announced that the officially assessed land value for 4,689 standard land parcels, as determined and disclosed by the Ministry of Land, Infrastructure and Transport as of January 1, 2026, has increased by 1.42% compared to the previous year.

This year’s standard land value reflects the Ministry’s “Revised Plan for Realistic Public Disclosure of Real Estate Prices,” which takes into account the economic downturn and a decrease in real estate transactions.

Yeongcheon City Hall Exterior View

In comparison, the national average increase was 3.35%, while Gyeongsangbuk-do recorded a 1.16% rise. Yeongcheon’s rate of 1.42% was slightly higher than the provincial average.

This upward trend is attributed to expectations for land price increases driven by large-scale regional development projects, such as the extension of Daegu Metro Line 1 to Yeongcheon (Geumho), the Yeongcheon Racecourse Park scheduled for completion in the first half of this year, and the Yeongcheon High-Tech Park District.

The standard land value was finalized and publicly disclosed on the 23rd after a process of gathering opinions from landowners and the local government, followed by a review by the Central Real Estate Price Disclosure Committee.

If there are any objections to the disclosed standard land value, appeals can be submitted online via the “Real Estate Price Information System” or in person at the city’s Cadastral Information Division until the 24th of next month.

The standard land value serves as a key reference for calculating the individually assessed land values for approximately 260,000 parcels in the jurisdiction.

Accordingly, the individually assessed land values, scheduled for public disclosure on April 30, are also expected to be calculated at a level similar to or slightly higher than last year’s disclosed values.

A city official stated, “Since the officially assessed land value serves as the basis for various national and local taxes and land-related charges, we will do our utmost to ensure a fair and objective assessment,” adding, “As this directly affects citizens’ property rights, we urge landowners to pay close attention and verify the information.”