The officially assessed reference land price for Busan has marked the 3rd highest increase rate across the nation.
The Ministry of Land, Infrastructure, and Transport has announced the official land prices of 18,040 land parcels in 15 districts and a county of Busan yesterday.
Busan saw an increase of 10.26% in land prices from last year.
The Ministry’s report will be used as criteria for individual land price calculation and appraisal.
The increase of the land price in Busan is mostly based on housing redevelopment businesses and others, standing on the 3rd place following a rise of 13.87% of Seoul, and 10.71% of Gwangju.