Land prices increased by 0.78% in the third quarter, trading volume decreased by 26.4% – Press release | Meeting room | news

1. Rate of change in land prices

The Ministry of Land, Infrastructure and Transport (Minister Hee-ryong Won Won) and the Korean Real Estate Agency (President Tae-rak Son) reported that the national land price increased by 0.78% in the third quarter of ’22, 0.20% wt from the second quarter of ’22 (0.98%) and the third quarter of ’21 (1.07%) said they were down 0.29% wt from the previous year.

The rate of change in the price of land in September this year was 0.20% and the increase was 0.08% lower than the previous month (0.28%) and 0.16% p lower than in the same period last year (0.36%).

(by region,%) The rate of change in the price of land in the third quarter of ’22 decreased slightly compared to the second quarter of ’22 both in the metropolitan area (1.10% → 0.89%) and in rural areas (0.78% → 0.60%).

(City / province) Sejong (1.23% → 0.94%), Seoul (1.20% → 0.93%) and Gyeonggi (1.03% → 0.87%) showed levels above the national average (0.78%).

(Si / Gun / Gu) Seongdong in Seoul 1.37%, Yongsan in Seoul 1.21%, Hanam in Gyeonggi 1.19%, Gunwi in Gyeongbuk 1.12% and Jongno-gu in Seoul 1.08% exceeded the national average.

(By area of ​​use), commercial 0.93%, industry 0.81% and planning management 0.77%.

(By usage situation), land (0.95% for commercial use) and 0.83% for all factories and factories were found.

2. Volume of land transactions

In the third quarter of ’22 the total volume of land transactions (including land attached to buildings) was approximately 48 million lots (383.1㎢), a decrease of 26.4% compared to the second quarter of ’22 ( △ 172,000 lots), a decrease of 39.0% compared to the third quarter ’21 (Δ30.7 million lots).

The net transaction volume of land excluding buildings attached to buildings was approximately 213,000 lots (356.8㎢), down by 21.3% compared to the second quarter ’22 (△ 58 thousand lots) and by 21.9% less than in the third quarter of ’21 (△ 6.0 million lots). .

(by region,%) Compared to the second quarter of ’22, the total volume of land transactions decreased in all 17 cities and provinces, including Incheon △ 40.6%, Gwangju △ 37.1% and Sejong △ 35, 2%.

The volume of pure land transactions decreased in 16 cities and provinces, including Daegu △ 33.3%, Jeju △ 26.6% and Chungnam △ 25.1%, excluding Sejong 7.3%.

(By area of ​​use) Unspecified use △ 45.9%, sector △ 29.9%, etc.

(By category) Industrial land △ 36.8%, large △ 28.4%, response △ 27.2%, etc.

(For building use) Residential △ 33.2%, commercial activity △ 30.6% and industrial use 25.9%.

The Ministry of Land, Infrastructure and Transport has announced that it intends to closely monitor changes in land prices and the volume of land transactions in the future and actively respond to anomalies.