Announced by the Ministry of Land, Infrastructure and Transport this year’s public housing price plan, the highest increase rate in 14 years
Jeonbuk Province This year’s official land price change rate is 7.4%, lower than the national average (19.08%), but has risen sharply compared to last year (-3.62%).
Most houses under 100 million won (279,000 units), 100 million to 300 million (140,034 units), 300 million to 600 million (2038 units), 600 million to 900 million (140 units)
The average price of apartment houses in the last 5 years, exceeding 100 million won in Jeonbuk Province, this year is 155.5 million won (94.21 million won last year)
The official price of apartment houses in the Jeonbuk region this year is up 7.4% compared to last year. The average price of apartment houses in the province also surpassed 100 million won for the first time. However, most of the apartment houses in the province are those with an official price of 600 million won or less, which are included in the one-house property tax exemption.
On the 15th, the Ministry of Land, Infrastructure and Transport announced the published prices (drafts) in 2021 for 447,000 apartment houses in the province, including apartments, row houses, and multi-family houses.
This year, the rate of change in the proposed apartment price (proposal) for apartment houses in Jeonbuk was 7.4%, lower than the national average of 19.08%, but it was found to have risen sharply from -3.62% last year.
It is analyzed that the reason for the increase in the official price was due to the surge in apartment prices last year. In fact, the rate of increase in published prices was also high in regions where the recent price increase rate was high. Sejong (70.68) had the highest increase rate compared to the previous year, followed by Gyeonggi 23.96%, Daejeon 20.57%, Seoul 19.91%, Busan 19.67%, and Ulsan 18.68%.
The reason they react sensitively to the quoted price is that when the quoted price rises, the burden of home ownership tax, such as property tax and comprehensive real estate tax, increases, and some high-priced and multi-household owners may feel a heavy burden. In addition, health insurance premiums for local subscribers will also increase.
However, most apartment houses in the province are less than 600 million won, which are included in the one-house property tax exemption, and the burden on the residents is not expected to increase.
In fact, among the 440,178 apartment houses in the province, the largest number of houses with less than 100 million won (27,9975), between 100 million won and 300 million won 145,034, and between 300 million won and 600 million won, 2038. It was counted. There were only 140 households with more than 600 million won and less than 900 million won, and no more than 900 million won.
Amid analysis that the range of tax fluctuations for high-priced and multi-homed people have increased relatively, it is expected that the impact on the Jeonbuk market will be minimal.
The Ministry of Land, Infrastructure and Transport emphasized that the tax burden for houses with an official price of less than 600 million won will be reduced, while the tax burden for high-priced homeowners and multi-homeowners will increase further.
Meanwhile, the average price of apartment houses in the Jeonbuk region, which showed an increasing trend, also exceeded 100 million won this year. It rose from 9,338,000 won in 2017, 93482,000 won in 2018, 9443 million won in 2019, and 9421 million won last year, to 155.23,000 won this year. During the same period, the median price ranged from 74 million won to 78 million won, and this year was 77.7 million won.
An official from the Ministry of Land, Infrastructure and Transport said, “We plan to review and reflect the opinions of the owners by the 5th of next month by the 5th of next month.” I said.