Gyeonggi Province Standard Land Price Increased 2.78% in 2025

[Suwon Ilbo=Reporter Kim Gap-dong] The standard land prices for 74,356 parcels in Gyeonggi Province, which serve as the basis for calculating and determining individual announced land prices this year, have been determined to have increased 2.78% compared to the previous year (2.92% nationwide).

The standard land prices announced this time were confirmed by the Ministry of Land, Infrastructure and Transport after undergoing a process that included investigations by the Korea Real Estate Board and certified real estate appraisers affiliated with appraisal firms over approximately five months from August of last year, consultation with landowners and city/county/district governments, and deliberation by the Central Real Estate Price Announcement Committee.

The standard land prices are evaluated and announced annually as of January 1st for land at appropriate prices, and are utilized as the basis for calculating individual announced land prices, appraising land, and providing land market price information.

By city/county/district, Hanam City and Yongin City (3.96%) recorded the highest rate of increase, while Seongnam City Bundang-gu (3.62%), Seongnam City Sujeong-gu (3.56%), and Siheung City (3.56%) also recorded increases higher than average.

The main factors driving increases were analyzed as the progress of large-scale development projects such as the third New Town (Hanam City), the creation of a semiconductor national industrial complex (Yongin City), the advancement of the Daejang district development project and the creation of the Nakseong public housing district (Seongnam City Bundang-gu), the progress of the Second Pangyo Techno Valley and residential redevelopment projects (Seongnam City Sujeong-gu), and the creation of the third New Town (Siheung), among others.

Meanwhile, Dongducheon City (0.75%), Yeoncheon County (0.95%), and Pocheon City (1.16%) saw only modest increases. This is analyzed as reflecting the continued downturn in the real estate market in northern Gyeonggi Province.

The standard land prices can be viewed at the Ministry of Land, Infrastructure and Transport offices and the civil service centers of the city/county/district governments where the standard land is located from January 24th to February 24th. During the same period, objections can be filed at the relevant city/county/district civil service centers or the Ministry of Land, Infrastructure and Transport (Real Estate Appraisal Division).

Standard land parcels for which objections have been submitted will undergo in-depth review by an external inspection team composed of certified real estate appraisers and professors, and deliberation by the Central Real Estate Price Announcement Committee. Where adjustments are necessary, the prices will be revised and re-announced on March 14th.