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2026 Officially Assessed Standard Land Prices in the Busan Area Rise by an Average of 1.92 Percent

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Busan Metropolitan City (Mayor Park Heong-joon) announced that, as of January 1, 2026, the officially assessed standard land prices in the Busan area increased by an average of 1.92 percent compared to the previous year.

The officially assessed standard land price refers to the appropriate price per unit area (won per square meter) of standard land parcels surveyed, evaluated, and officially announced by the Minister of Land, Infrastructure and Transport in accordance with the Act on the Public Announcement of Real Estate Prices.

Standard land prices are used as official benchmarks for various systems, including real estate holding taxes and eligibility for welfare benefits. The market reflection rate for this year’s standard land prices has been frozen at the 2025 level in accordance with the government’s “2026 Real Estate Price Announcement Implementation Plan.”

This year, a total of 20,424 standard land parcels across 16 districts and counties in Busan were subject to assessment. As a result of the price announcement, the average rate of change in land prices was 1.92 percent.

The national average increase rate stands at 3.36 percent, with Seoul recording a 4.89 percent rise, Gyeonggi Province 2.71 percent, Busan 1.92 percent, Daejeon 1.85 percent, and Chungcheongbuk-do 1.82 percent, in that order.

By district and county, Haeundae-gu (2.74 percent), Suyeong-gu (2.71 percent), Gangseo-gu (2.58 percent), Dongnae-gu (2.28 percent), and Busanjin-gu (1.97 percent) recorded increases higher than the citywide average of 1.92 percent, while the remaining 11 districts and counties posted lower-than-average increases.

In particular, Jung-gu (0.67 percent) and Saha-gu (0.80 percent) recorded increase rates in the zero-point range.

Within Busan Metropolitan City, both the highest and lowest standard land prices remained the same as last year. The highest-priced land is located at 165-2 Bujeon-dong, Busanjin-gu (Seomyeon Dongbo Plaza), with an assessed price of 43.72 million won per square meter, unchanged from the previous year. The lowest-priced land is located at San 40, Oryun-dong, Geumjeong-gu, a development-restricted area, with an assessed price of 1,090 won per square meter, up from 1,040 won the previous year.

Standard land prices can be viewed online through the “Realty Price Notification System” at www.realtyprice.kr, or offline at the relevant district or county office with jurisdiction over the location of the standard land.

Objections may be filed until February 23 either online through the “Realty Price Notification System” or by fax or mail to the Real Estate Appraisal Division of the Ministry of Land, Infrastructure and Transport. Submitted objections will undergo in-depth review by an external inspection panel composed of experts such as certified appraisers and professors, as well as deliberation by the Central Real Estate Price Announcement Committee. Any adjusted standard land prices will be officially announced in the Official Gazette on March 13.