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Current Status of Real Estate Price Disclosure System and Legal Policy Issues

  • Public Land Law Review
  • Abbr : KPLLR
  • 2020, 92(), pp.113-129
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law
  • Received : November 2, 2020
  • Accepted : November 23, 2020
  • Published : November 25, 2020

Chung Tae Jong 1

1전북대학교

Accredited

ABSTRACT

It has been 31 years since the official land price system was introduced in 1998. The legislative objective at the time of the introduction of the public land price system appears to be still in the process of implementation, and the various legislative policy tasks that were expected to be addressed by the introduction of the public land price system, namely, reflecting the actual transaction price, establishing taxation standards through the readjustment of land valuation criteria by various entities, and evaluating land based on expertise, have not found a breakthrough solution to this day despite the introduction of various attempts and discussions and policy measures. In our society, land and other real estate functions as an object that combines the nation's major long-term development plan, citizens' high interest in housing issues, and functions as a major form of property, so such legislative policy tasks are still considered to serve as the main agenda items for discussion. In particular, the improvement of the actualization rate of the declared value of real estate should be implemented in a predictable manner, considering the reduction of the imbalance that existed between the declared values of multi-family housing, detached houses and land, the reversal phenomenon of the declared value of detached houses, the use of special land, and the enhancement of equity by price range within the same type. In addition, the assessment of the real estate price disclosure system and the securing of price uncertainty, objectivity and transparency due to the uncertainty of the calculation process are necessary factors to enhance the reliability of the real estate price disclosure system. The period of objection to the quoted price which acts as a basis for various burdens should be sufficiently guaranteed to ensure relief from the quoted price.

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