Nature Republic in Myeong-dong, Jung-gu on the 23rd. News 1
It is predicted that next year, national land prices will increase by more than 10% on average from this year. This is the highest rate of increase in 14 years since 2007 (12.4%).
The publicly announced land price per ㎡ of the Nature Public site (169.3㎡) in Myeong-dong, Jung-gu, Seoul, which is the most expensive in the country, exceeded 200 million won (26.5 million won) for the first time.
On the 23rd, the Ministry of Land, Infrastructure and Transport announced the published price plan for 520,000 parcels of national standard land as of January 1, 2021. This proposal will be finalized on February 21 of next year after collecting opinions.
Capital relocation issue Sejong, up 12.38%
According to the government’s announcement, the standard public land price in Seoul, which rose 7.89% this year, will increase to 11.41% next year. The national average is also expected to increase from 6.33% this year to 10.37% next year. Gangwon Yangyang, the mecca of marine leisure sports surfing, was the place where the land price of standard land in cities, counties, and gus was the most, and the rate of increase reached 19.86%.
Among the major cities and provinces, Sejong, which has high expectations for development due to the issue of capital relocation, is the highest at 12.38%. Gwangju 11.39%, Busan 11.08%, and Daegu 10.92% also recorded an increase of more than 10%. In Seoul, Gangnam-gu (13.83%), Seocho-gu (12.63%), Yeongdeungpo-gu (12.49%), Gangseo-gu (12.39%), Songpa-gu (11.84%), and Seodaemun-gu (11.5%) showed high growth rates. The region with the lowest growth rate next year is Chungnam (7.23%), which is higher than the national average increase rate (6.33%) this year.
The increase in standard public land prices is due to the government’s plan to realize publicly announced prices in addition to the increase in land prices. The actualization rate (the ratio of the quoted price to the market price) from 65.5% this year rose 2.9% to 68.4% next year. This is similar to the government’s target ratio for next year’s actualization plan (68.6%). Earlier, the government announced a roadmap for the real estate listing price realization rate, and decided to raise the land to 90% by 2035.
Taxes not levied this year, divided into next year and next year
For ultra-high-priced land, the rate of increase in publicly announced prices next year was only 2~3%, but the ownership tax is expected to increase by 20~30%. This is the effect that the government raised the rate of increase in the published price of ultra-high-priced land to the 100% level as the publicly announced land became a reality in 2019. Shinhan Bank tax accountant Woo Byung-tak said, “The publicly announced land price rose significantly in 2019, but not all were imposed due to the upper limit on detailed charges by year. This naturally affected the tax in 2020 and 2021.”
For example, the public price of the Myeong-dong Nature Republic site, which has been the most expensive land per square meter for 18 years in a row, rises by 3.77% from 33,690.7 million won this year to 34.96,045 million won next year. However, as a result of estimating the ownership tax (property tax + general busan tax) by tax attorney Woo Byeong-tak, the ownership tax of the property owners of Nature Republic rose 27.15% (4,942 million won) from 18206 million won this year to 23.149 million won.
Woori Bank’s site (392.4㎡) in Myeong-dong 2-ga, Jung-gu, Seoul, which has the second place in the public domain, is 3.65% from 75.340.8 million won this year (191 million won per 1 ㎡) to 787.6 billion won next year (191 million won per 1 ㎡). The ownership tax rises 38.15% from 466.2 million won to 63636 million won.
However, since the property tax rate is low for general land, the change in property tax is not expected to be significant next year. As a result of the Ministry of Land, Infrastructure and Transport’s simulation results, the property tax for factory A (83㎡) in Yeongdeungpo-gu, Seoul will increase by 120,000 won from 820,000 won this year to 940,000 won. Store C (76m2) in Seoul B market rises from 3.19 million won to 3.34 million won (an increase of 150,000 won), and farmland D (678m2) in Seocho-gu, Seoul from 276,000 won to 300,000 won (26,000 won increase).
The publicly announced land price of the standard land can be viewed from the 24th at the civil petition office of the city/gun/gu office where the standard land is located on the’Real Estate Announced Price Alert’ site. If there is an opinion, the opinion can be submitted by January 12, 2021.
Kim Ji-seop reporter [email protected]
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