Surge in Objections to Official Housing Prices; 70% Request Downward Adjustments

[Economy 365]

Objections to the official prices of apartment units have surged.

According to the Ministry of Land, Infrastructure and Transport, there were 6,066 objections regarding official housing prices this year, an increase of approximately 2.5 times compared to the 2,451 cases filed last year.

This is the highest level since 2021, when the official price increase rate reached 19.05%.

In particular, requests for downward adjustments accounted for 4,379 cases, representing 72.2% of all objections filed.

This year, official housing prices rose by 9.13% nationwide and 18.6% in Seoul. Seongdong-gu saw the highest increase at 28.98%, while Gangnam-gu and Songpa-gu also experienced increases exceeding 25%.

The Ministry of Land, Infrastructure and Transport plans to review the objections and announce the final adjusted official prices on June 26.

*This article was produced using AI audio.
※ Please note: This article was translated by AI and may contain errors.