Scope of work

Reference land price

The price per square meter as of 1 January each year
An appraiser surveys and assesses a reference parcel The Minister of Land, Infrastructure and Transport asks an appraiser to select a reference parcel that can stand for a tract of land whose use, surroundings, and other natural and social conditions are generally alike, and to survey and assess a proper price.
The Minister decides and announces that price It is also called the announced land price, or the standard announced land price.

The price per square meter of each parcel as of 1 January each year
Local governments calculate a price from the reference land price Using the reference land price the Minister announces each year, and the land-price comparison table, the mayor, county head, or district head surveys the characteristics of land in the area, compares them with the reference parcel, and calculates a price.
The price is verified, reviewed, and confirmed before announcement The price is decided and announced after an appraiser verifies it, the owner and other interested persons are heard, the real estate price committee of the city, county, or district reviews it, and the Minister confirms it.

Appraisal for compensation related to public projects, including the purchase and taking of land for public use.

Appraisal for national and local taxes under the 「National Tax Collection Act」 and the 「Local Tax Collection Act」.
Appraisal to set the price used for a development charge, and a check of the land price at the end of the period.
Appraisal for tax purposes to be filed with the National Tax Service, including inheritance and gifts.

Appraisal of a public contribution under the 「Act on Planning and Use of National Land」 or the 「Special Act on the Improvement and Support of Aging Planned Cities」.
Appraisal to set the price of residential, industrial, and tourist sites developed under the 「Housing Site Development Promotion Act」 and related laws.
Appraisal of land for a replotting settlement, or for the sale of land reserved to cover project costs, in a land readjustment district or a farmland readjustment district.

Appraisal of property for an auction pending in court, for a civil, criminal, or administrative case, or for rehabilitation proceedings.

Appraisal for an urban improvement project, including assets before the project, assets after the project, state-owned and public property, infrastructure, cash settlement, and the tax base for corporate income tax.

Appraisal for the purchase, sale, collateral, or management of assets held by a financial institution, a government-invested or government-funded institution, or another public body.
Appraisal for the purchase or sale of assets under the 「Private School Act」, the 「Social Welfare Services Act」, and similar laws.

Appraisal of collateral for a financial institution, an insurance company, a trust company, an agricultural or fisheries cooperative, a leasing company, or a venture investment firm.
Appraisal of collateral for opening or managing an agency of a company.
Appraisal related to guarantee insurance under the 「Special Act on Private Rental Housing」.

Appraisal of assets when a corporation is established or when corporations merge.
Appraisal of property for a license, a permit, immigration, and similar procedures.
Appraisal of real estate, a factory, and other property for an ordinary transaction or for managing property.
Appraisal for converting public rental housing to sale under the 「Special Act on Public Housing」.
Appraisal to set the purchase price of newly built or existing housing for a public rental housing project.
Appraisal to calculate the surplus from an auction under the special act on support for victims of jeonse fraud and on housing stability. Jeonse is a lease paid as a large deposit instead of monthly rent.

A study of profitability, and of how rights are converted and adjusted, for a public project such as redevelopment or reconstruction.
A basic survey for a public project.
A study of the highest and best use of real estate.
A study to support a decision about real estate.
A study to choose a location.
A study of whether a real estate investment or a development project is feasible.
A study of the level of land prices.
A study of how assets are used and managed.
A study to set a price or a rent for real estate.