Written by 1:25 PM Economics

‘Price Limitation System for Housing Supply’ – Basic apartment construction costs increased by 3.3%

Appearance of an apartment reconstruction site. Unrelated to the article content. Yonhap News

Appearance of an apartment reconstruction site. Unrelated to the article content. Yonhap News,
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, ‘The ‘basic construction cost’ applied to housing subject to the pre-sale price ceiling system will increase by 3.3% compared to the first half of this year. This is the result of reflecting the increase in labor and material costs.’,
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, ‘On the 13th, the Ministry of Land, Infrastructure and Transport announced the basic construction cost applied to housing subject to the pre-sale price ceiling system.’,
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, ‘The basic construction cost is one of the components that make up the pre-sale price ceiling of housing subject to the pre-sale price ceiling system. The land cost accounts for the largest portion of all items. The Ministry of Land, Infrastructure and Transport announces the basic construction cost twice a year (March 1 and September 15).’,
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, ‘Due to the increase in material costs such as concrete and labor costs, the basic construction cost (16 to 25 floors, based on a floor area of 60 to 85 square meters) will increase by 3.3% from the previously announced 203,800 won per square meter to 210,600 won per square meter.’,
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, ‘The revised announcement will be applied starting from the complexes that apply for occupancy recruitment approval after September 13th. The actual pre-sale price is determined by considering the possibility of pre-sale within the pre-sale price ceiling based on the basic construction cost, as well as the surrounding market prices and other factors.\n’]

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