Osan City 2021 Standard Land Posted Price Increased 9.76%

[Suwon Ilbo=Reporter Seo Dong-young] Osan City's 2021 standard land posted price increased 9.76% compared to the previous year.

This follows the decision and announcement by the Minister of Land, Infrastructure and Transport on January 1st regarding 624 benchmark parcels in Osan City and standard land nationwide that serve as the basis for calculating individual posted land prices. The figure is similar to Gyeonggi Province's average increase rate and slightly lower than the national average increase rate.

Nationally, prices rose 10.39% compared to the previous year, Gyeonggi Province rose 9.74%, and Osan City rose 9.76% respectively.

The price increase is attributed to land use zone changes and various development projects.

The standard land posted price is an officially assessed and announced appropriate price for land as of January 1st each year and serves as the basis for appraisals and the calculation of individual posted land prices for approximately 39,000 parcels subject to survey in Osan City.

The standard land posted price can be viewed at the Ministry of Land, Infrastructure and Transport website (www.molit.go.kr), the Real Estate Public Notice Price Information website (www.realtyprice.kr), and the Land Information Division of Osan City Hall until next month the 2nd. If there are any objections to the prices, objections may be filed with the Ministry of Land, Infrastructure and Transport within the same period.

Based on the decided and announced standard land posted price, Osan City will begin calculating individual posted land prices from February 1st and is scheduled to make a final decision and announcement on May 31st following verification by dedicated appraisers and review by landowners and other interested parties.

For other inquiries regarding standard land posted prices, please contact the Land Information Division of Osan City Hall (031-8036-7302~3).