@article{ART001547292},
author={홍원철 and Soon-Tak Suh},
title={An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2011},
volume={21},
number={1},
pages={155-169}
TY - JOUR
AU - 홍원철
AU - Soon-Tak Suh
TI - An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-
JO - Korea Real Estate Review
PY - 2011
VL - 21
IS - 1
PB - korea real estate research institute
SP - 155
EP - 169
SN - 2092-5395
AB - ‘Officially announced individual land price’, ‘single-family housing price’ and ‘multi-family housing price’ are researched and decided by the similar assessment method based on the same law and each officially announced price is defined as “reasonable price”. Considering that the term of ‘reasonable price’ is presented to achieve legal purpose, it is correct to say that it has intended not only to work as a reference in assessing the price but also to contribute to the formation of reasonable prices as a transaction standard.
Therefore, it is important that the officially announced price of real estate have fully reflected market prices (real transaction price) and individual officially announced price has not lost fairness as an ‘reasonable prices’. Therefore, what matters is not the fact that the prices of actual trading and officially announcing are different but the reality that the officially announced price are not considered as reasonable prices because there are differences in the officially announced prices of the same property; different reflection rate of real trading prices is applied to set the officially announced price including ‘Officially Announced Individual Land Price’ ‘Single-Family Housing Price’, ‘Multi-Family Housing Price’ and ‘Sng PricePrices of Bamily Ho’ which are supposed to reflect market prices (or real transaction price of real estate); the applied reflection rate differs depending on the use ded ticts and u priti-Family Ho, causing a dedparity among the officially announced price of real estate; the reflection rate is ex temely low.
In this study, I have presented the degree of disparity between the officially announced price of real estate and the price level of officially announced price by directly comparing the officially announced price and real transaction prices of real estate based on a complete survey on the reported prices of real estate transactions.
According to this study, the officially announced price have been about 50% to 70% of the report prices of actual real estate transaction and the officially announced price of ‘Single-Family Housing Price’ that includes both buildings and housing has reached only about 86% of ‘Officially Announced Individual Land Price’ which counts only land price.
KW - report prices of real transactions price of real estate;single-family housing price;multi-family housing price;officially announced individual land price
DO -
UR -
ER -
홍원철 and Soon-Tak Suh. (2011). An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-. Korea Real Estate Review, 21(1), 155-169.
홍원철 and Soon-Tak Suh. 2011, "An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-", Korea Real Estate Review, vol.21, no.1 pp.155-169.
홍원철, Soon-Tak Suh "An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-" Korea Real Estate Review 21.1 pp.155-169 (2011) : 155.
홍원철, Soon-Tak Suh. An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-. 2011; 21(1), 155-169.
홍원철 and Soon-Tak Suh. "An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-" Korea Real Estate Review 21, no.1 (2011) : 155-169.
홍원철; Soon-Tak Suh. An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-. Korea Real Estate Review, 21(1), 155-169.
홍원철; Soon-Tak Suh. An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-. Korea Real Estate Review. 2011; 21(1) 155-169.
홍원철, Soon-Tak Suh. An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-. 2011; 21(1), 155-169.
홍원철 and Soon-Tak Suh. "An Analysis of Reasonableness of Officially Announced Price of Real Estate Based on Real Transaction Prices -The Case of Gangdong-Gu in Seoul-" Korea Real Estate Review 21, no.1 (2011) : 155-169.
