Official Apartment Prices Rise 9.16%, Increasing Tax Burden

The government's decision to raise the official prices of apartments and other housing units, which serve as the basis for taxation, by an average of 9.16% from last year is expected to lead to the largest increase in tax burdens for homeowners since 2022. According to the '2026 Official Housing Price Plan' announced by the Ministry of Land, Infrastructure and Transport on the 17th, the official prices for 15.85 million housing units nationwide increased by an average of 9.16% year-on-year. The government also froze the official price realization rate at 69% this year.

Seoul recorded the highest official price increase rate nationwide at 18.67%. Among districts, Seongdong-gu saw the highest surge at 29.04%, followed by Han River-adjacent areas like Gangnam-gu (26.05%), Songpa-gu (25.49%), and Yangcheon-gu (24.08%), all exceeding a 20% rise. In contrast, outer Seoul districts such as Dobong-gu (2.07%), Geumcheon-gu (2.80%), and Gangbuk-gu (2.89%) showed much lower increases of 2-3%.

The number of homes subject to the comprehensive real estate tax, with official prices exceeding 1.2 billion won, increased by 53.3% from 317,998 units last year to 487,362 units this year. Approximately 85% of these are concentrated in Seoul, while homes with official prices over 900 million won exceeded 600,000 units, and those over 3 billion won surpassed 50,000 units.

These official prices will be finalized on April 30th, and June 1st is the standard date for imposing property taxes. This article was generated by AI and verified by a human editor.