The number of apartments in the metropolitan area sold cheaper than the official price increased 5 times in 3 months

[아시아경제 류태민 기자] As the fall in house prices intensified following successive interest rate hikes, the number of transactions sold at prices below the official price increased sharply.

An apartment complex in the Gangbuk area, including Seongbuk-gu, Seoul.[사진=연합뉴스]


On the 28th, real estate brokerage firm Ziptos analyzed the status of apartment sales in the metropolitan area through the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system. This is a figure that has increased more than five times compared to the number of flat transactions sold below the official price in the third quarter of last year, which was 57. Excluding 71 cases of direct transactions such as donations among the 303 of cases, brokerage transactions totaled 232 cases.

There was also a case where he was traded he won more than 240 million below the official price. 101.83㎡ (exclusive area) of Seohee Yongchang Apartment in Seocho-gu, Seoul was brokered for 934.8 million won in December last year. It is 245.2 million won below the lowest published price of 1.18 billion won for the same area. In Gaepo Jugong Complex 6, Gangnam-gu, in December last year, 83.21㎡ was traded at 1.9 billion won, about 100 million won lower than the official lowest price of 2.08 billion won.


In the Gyeonggi and Incheon regions, actual transactions continued below the official price. The 121.82㎡ of Humansia Cheonggye Village in Uiwang-si, Gyeonggi-do was brokered for 700 million won, down almost 200 million won from the lowest official price of 894 million won in December last year . The 84.97㎡ of Hill State Lake Songdo 2 in Yeonsu-gu, Incheon is also traded at 630 million won, 72 million won lower than the official lowest price in November last year.

The official price is an appraisal price determined by the government through an appraisal on January 1 each year for taxation, etc. It is used as a standard for 67 administrative systems, including property tax, comprehensive real estate tax, health insurance premium, and basic pension. If the official price realization rate is reduced, the withholding tax burden will be reduced.

Jin Tae-in, head of the apartment brokerage team at Ziptos, said, “The public price is one of the important factors when evaluating when registering for a charter loan or guarantee insurance that can cause,” he noted. In addition, he added, “The official price is used as a basis for calculating the withholding tax, and if it is too high compared to the value of the actual asset, it can increase the burden on the actual consumers of the common people.”

On the 25th, the Ministry of Land, Infrastructure and Transport announced that the standard land and standard house prices for 2023 were reduced by -5.92% and -5.95%, respectively, compared to the previous year . Experts predict that the holding tax will fall below the 2020 level as the public price of flats, which will be reviewed from March 17, is also expected to drop by double digits.

Reporter Ryu Tae-min

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