Ministry of Land, Infrastructure ⁣and⁣ Transport Announces Plan to⁣ Improve Public‍ Offering‍ Price Calculation System

The ‍Ministry of Land, Infrastructure‍ and Transport has announced a plan to improve⁤ the public offering price calculation‌ system, which aims‌ to increase ⁣the credibility of the public offering price⁤ by allowing ‍it to fluctuate at a level ⁤similar ‌to the change in market value.

The current ⁣method of ​calculating the public offering price will be ​changed from the current method of increasing the market price reflection rate every year to a method that⁤ faithfully reflects market changes ⁢in​ line with public perception.

The revised public offering price calculation method will multiply the market‌ price by the market ⁤fluctuation rate plus 1⁢ and then the public price of the previous year. This⁣ change is⁢ expected to minimize the occurrence of the ‌phenomenon of the public ‍offering price reversing the actual transaction‌ price.

Improvement Plan for Calculating Public⁣ Offering Price

The improvement plan includes the following steps:

• Evaluate the ⁢balance⁢ level of​ each city, county, and district unit.
• Select⁣ areas that fall ⁤short of the balance evaluation criteria as areas for in-depth review.
• Measure‌ the COD (Coefficient of⁤ Dispersion) of the‌ public price estimated by⁤ the investigator to select⁣ areas requiring homogeneity improvement.
• Measure the PRD (Price ⁣Ratio Dispersion)⁣ of the public price estimated‍ by ‌the investigator to select areas requiring⁢ fairness improvement by price range.
• Analyze the ratio of⁤ actual transaction price, ⁤automatic calculation model price, and public price to ⁢select areas‌ with ​excessive or insufficient evaluation levels.

Reassessment‌ of ⁢Public Announcement Prices

The public announcement prices of real estate with low‌ imbalance, selected based on the ⁣selected in-depth ‍review areas, will ⁤be ⁣reassessed through deliberation by the Central Real Estate⁤ Price Public Announcement Committee to⁤ improve​ the imbalance.

An​ external expert, such ⁣as a university professor or a real estate appraiser who did not participate in the public announcement, will conduct a final review of the ‍real estate⁤ agent’s ‌review ⁢opinion, ​and the Ministry of Land, Infrastructure and Transport will finalize the public ‍announcement price inspection plan.