KOREA REAL ESTATE BOARD-Public Announcement of Multi-Family Housing Prices

Major Business

This term refers to the prices publicly announced by the Minister of Land, Infrastructure and Transport after conducting a survey and assessment of the adequacy of the reasonable prices of multi-family housing as of the base date of public announcement.
Base date of public announcement: January 1 every year (regular) / June 1 (additional)

Multi-family houses under subparagraph 3 of Article 2 of the Housing Act are subjects of survey and assessment, as are multi-family houses designed for living purposes, such as apartment houses, row houses, and multi-household houses.

REB surveys and assesses the reasonable price of multi-family housing as of the base date for public announcement, defined as the price at which trade is deemed most likely to be effected if normal transactions take place in an ordinary market.
* Data such as transaction cases, appraisal precedents, pre-sale cases, and market reputation prices are utilized; however, asking prices or abnormal transaction prices resulting from special circumstances are excluded.