-On the 24th, there are voices of concern in the market over the’Standard Land Announced Land Price Plan’ as of January 1st of next year. This is due to concerns that the rate of realization of the public announcement may have a negative impact on the economy and the market, which is already stagnant due to the novel coronavirus infection (Corona 19).
According to the publicly announced land price for next year’s standard land released by the Ministry of Land, Infrastructure and Transport, the nationally announced land price for next year will increase by an average of 10.37% from this year. It is the highest rate of increase in the last 14 years.
The government set the actualization rate of the publicly announced land price of standard land next year at 68.4%. This is a figure that is 2.9 percentage points (p) higher than the actualization rate (65.5%) of the public announcement this year.
Earlier, the government announced the “Roadmap for Real Estate Public Price Realization Rate,” and decided to raise the land price to 90% by 2035. The officially announced land price is not only the price of all houses, shopping centers, and buildings, including apartments, but also capital gains tax, inheritance tax, and comprehensive It affects society as a whole, such as being an indicator of national and local taxes such as land tax, acquisition tax, registration tax, and so on. In the industry, it is considered that there are many risks that such price increase will be passed on to the sale price or rent, regardless of the large or small amount.
Young-jin Ham, head of Jikbang Big Data Lab, said, “Even though the publicly announced land price is an evaluation of the land, even if the impact is not significant, it has no choice but to act as a burden for the tax increase.”
He predicted that “the tax burden will be passed on to the rent of the tenant beyond the owner, or will have an impact on the market due to the structure that cannot but be included in the sale price at the time of transaction.”
As the economic downturn such as Corona 19 overlaps, housing and shopping centers affected by the Lease Protection Act are less likely, but offices such as offices will face considerable pressure from rent.
Some point out that more careful consideration is needed regarding the government’s announcement that it will raise the realization rate to 90% by 2035.
Ji-hae Yoon, senior researcher at Real Estate 114 said, “Because the nationwide real estate market has been on the rise this year, the market may accept that the increase is large, but if the actualization rate is artificially raised even in the downward trend (downward trend), strong tax resistance can be encountered. I advised.
Meanwhile, the Ministry of Land, Infrastructure and Transport said, “The property tax rate on land is lower than that of houses, so the change in property tax amount due to changes in the publicly announced land price is not significant.”
According to the simulation results of the Ministry of Land, Infrastructure and Transport, the published land price of stores with a level of 76 square meters in the parent market in Seoul will rise by 4.26% from 980.04 million won this year to 1,022.2 million won next year, and the property tax will rise by 150,000 won from 3.19 million won to 3.34 million won.
(Seoul = News 1)
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