The public announcement price of detached houses with a market price of over 900 million won next year

View larger-The official price of the national standard detached house next year will increase by 6.68% from this year. Seoul’s rise rate exceeds 10%. This is due to the overall rise in house prices and the government’s increase in the rate of reflecting the quoted prices. As for detached houses with a market price of more than 900 million won, the publicly announced price rises more steeply, and holding only one expensive house is expected to increase the burden of ownership tax next year.

The Ministry of Land, Infrastructure and Transport announced on the 17th that from the 18th, it will disclose the officially announced prices for standard detached houses in 2021 through the site of the’Notified Real Estate Price Alert’. The standard detached house is a house that is the basis for calculating the published price of an individual detached house and has a scale of 230,000 units.

The national average public price increase rate next year is 6.68%, higher than this year’s (4.47%). It is the second highest in the past 10 years after 2019 (9.13%). All 17 cities and provinces climbed, with the highest increase in Seoul (10.13%), followed by △Gwangju (8.36%) △Busan (8.33%) △Sejong (6.96%). Even in Jeju (4.62%), where the house price this year fell from last year, the official price rose.

This is because the Ministry of Land, Transport and Maritime Affairs raised the quoted price realization rate next year in accordance with the’Real Estate Listed Price Realization Plan’ released last month in addition to the market price increase. The Ministry of Land, Infrastructure and Transport plans to raise the official price of single-family homes, which is 53.8% of the current market price, to 90% by 2035. The tax burden is expected to increase significantly for owners of high-priced homes with a market price of 900 million won or more, the main target of raising the public price. As a result of the Ministry of Land, Infrastructure and Transport’s estimation of the holding tax according to the publicly announced price increase rate for next year, the market price of 1.2 billion won (published price of 644 million won) will increase by 232,000 won (14.1%) from 1.64 million won this year to 1.872,000 won. The market price of 2 billion won (announced price of 1.24 billion won), which is subject to comprehensive real estate tax payments, rises more steeply from 4826,000 won to 6761,000 won. On the other hand, the low and mid-priced home ownership tax will decrease. This is because one homeowner with an official price of 600 million won or less will receive a property tax cut for three years starting from January next year. The market price of 800 million won (published price of 419 million won) will decrease from 890,000 won this year to 783,000 won next year.

Su-yeon Sue, a professor of economics at Jeju National University, said, “The elderly who live in a local detached house may be eliminated from various welfare benefits such as basic pension due to an increase in the public price, but there is no complementary measure for these side effects.” “The roadmap for realization that the government has unilaterally set must be reviewed.” The official price of the standard detached house will be decided on January 25 of next year after hearing the opinion of the owner by the 6th of next month. Public prices for apartment houses, such as individual houses and apartments, will be confirmed in April of next year.

Hokyung Kim [email protected]Go to reporter page>Reporter Lee Sae-sam