The basic construction cost used to calculate housing prices subject to the price ceiling system will increase by 4.07% starting from the 15th.

The Ministry of Land, Infrastructure and Transport announced on the 14th that it will make this regular notice regarding the basic construction cost.

The basic construction cost constitutes the upper limit of housing prices, along with the land cost and additional land and construction costs.

The government regularly announces the basic construction cost every March and September, and adjusts it irregularly if prices of major construction materials spike.

According to this notice, based on a ground floor standard for buildings ranging from 16 to 25 stories with a dedicated area of 60 to 85 square meters, the basic construction cost will rise by 91,000 won (4.07%) from 2.237 million won per square meter at the time of the irregular notice last July to 2.328 million won.

Notably, in line with the government's policy to strengthen support for safety investments across all stages of construction, indirect construction costs rose by 9.77% from 604,000 won to 663,000 won.

This is the result of reflecting the "2026 Cost Calculation Indirect Construction Cost Application Standards" announced by the Public Procurement Service last April.

The newly revised basic construction cost will apply to complexes that apply for resident recruitment approval from the 15th onward.

The actual housing price is determined by local government housing price review committees, combining the basic construction cost, land cost, and various additional costs.
 
(Photo provided by the Ministry of Land, Infrastructure and Transport, Yonhap News)