Most Expensive Land in Yongin City Located in Suji-gu... Cheapest Land in Cheoin-gu at 4,430 Won per ㎡

[Suwon Ilbo=Reporter Park No-hun] Yongin City is announcing prices for land and housing in the city and accepting objections from the respective owners.

According to Yongin City on the 29th, the city determined and announced individual publicly announced land prices for 275,379 parcels of land across the city as of January 1, and published individual housing prices for 28,514 units including single-family and multi-family residential properties.

Objections for both land and housing can be filed until May 30.

The most expensive land in Yongin City is the land for Suji Plaza building in Pungdeokcheon-dong, Suji-gu, surveyed at 7,891,000 won per ㎡.

The cheapest land was found to be Lot 49-1, Hakil-ri, Wonsam-myeon, Cheoin-gu, at 4,430 won per ㎡.

Individual publicly announced land prices in Yongin City showed an average increase of 9.52% compared to last year. By district, Giheung-gu showed the highest increase rate at 10.31%, while Cheoin-gu and Suji-gu showed increase rates of 9.23% and 8.76% respectively.

In Giheung-gu, Lot 71-4 in Singal-dong was priced at 6,960,000 won per ㎡, and in Cheoin-gu, the land of the Nonghyup Bank in Gimnyangyang-dong was valued at 6,783,000 won per ㎡, marking the most expensive locations in each district.

To file an objection to individual publicly announced land prices, applicants should fill out the individual publicly announced land price objection form available at each district office and 40 eup, myeon, and dong administrative service centers until May 30, and submit it to the Land Survey Division of the District Office where the land is located.

The city plans to re-investigate the appropriateness of the decided land prices for lands where objections are filed, undergo verification by appraisal evaluation firms, and notify individuals following deliberation by the Real Estate Price Public Announcement Committee.

Individual publicly announced land prices are used as reference data for levying comprehensive real estate taxes, property taxes, acquisition taxes, and other land-related national and local taxes, as well as various charges.

Individual housing prices are used as the tax base for comprehensive real estate taxes, transfer taxes, inheritance taxes, and other national taxes as well as local taxes including property taxes and acquisition taxes, making it essential for property owners to verify the prices.

Individual housing prices can be reviewed at the tax division of each district office and the eup, myeon, and dong administrative welfare center where the residential property is located, and can also be checked on the Real Estate Public Announcement Price Notifier homepage (www.realtyprice.kr).

Those with objections to the individual housing prices announced this time can visit the tax division of each district office or eup, myeon, and dong administrative welfare center, fill out the individual housing price objection form and the personal information collection and use consent form, and submit them.

For housing subject to objection filing, the appropriateness of the announced prices will be re-examined from May 30 to June 23, and after the final deliberation by the Real Estate Price Public Announcement Committee, notification will be provided in June.

Collective housing including apartments, townhouses, and multi-unit residential buildings also had prices announced under the auspices of the Ministry of Land, Infrastructure and Transport.

The review and objection filing period for collective housing price announcements is also until May 30, and can be checked and objections can be filed on the Real Estate Public Announcement Price Notifier homepage.

A city official stated, "We encourage all residents to review the announced housing prices that serve as the basis for various taxes so that they do not face difficulties from failing to check their housing prices."

Meanwhile, the average housing price in Yongin City was found to have increased by 5.87% compared to last year. Suji-gu had the highest increase rate at 7.15%, followed by Giheung-gu at 6.12% and Cheoin-gu at 4.99%.

Looking at the ratio of individual houses by price range, homes priced at 300 million won or less were the most common with 15,953 units.

There were 8,309 units priced over 300 million won up to 600 million won, 3,350 units for homes over 600 million won up to 900 million won, and 902 units for homes over 900 million won.

The most expensive house in Yongin was a residential property located in Gomae-dong, Giheung-gu, valued at 2,968 million won, while the cheapest house was located in Baekam-myeon, Cheoin-gu, valued at 6.48 million won.