[서울신문] “Under 20 million won per pyeong of apartment… Only one place in Seoul”

Less than 20 million won per 3.3㎡ of apartment in Seoul
The early 19th place of the civil government → 1 place at present
“Regulatory balloon effect makes even mid- to low-priced apartments rise”

In 25 districts of Seoul, only one area where the average price per apartment pyeong (3.3㎡) does not exceed 20 million won. Only one place in Dobong-gu has yet to exceed 20 million won.

According to the’December Monthly Market Price Statistics’ of KB Kookmin Bank’s real estate on the 31st, it was found that 24 out of 25 districts in Seoul had an average selling price (per pyeong) of over 20 million won.

As a result of converting KB’s average selling price per ㎡ of apartments by region to 3.3㎡, Dobong-gu was 193,000 won.

Dobong-gu, the last pyeong-dang area of ​​10 million won, also recently showed a steep rise (18.84 million won in October → 19.37 million won in November → 19.37 million won in December), and the area with an average pyeong-dang of less than 20 million won in Seoul is expected to disappear next month.

KB market statistics are the standard data for mortgage loans. 20 million won per pyeong is converted into 30 pyeong (99m2 of supply area), which is 600 million won. It has been regarded as the standard price of housing for the common people, but it is rapidly disappearing due to a short-term surge in housing prices recently.

In the early days of the Moon Jae-in administration (as of May 2017), 19 out of 25 districts in Seoul had a pyeong per pyeong of less than 20 million won. Out of the remaining six, four were in the early and mid-range of 20 million won, and Gangnam-gu and Seocho-gu alone formed 30 million won high family.

In the meantime, the government has poured out regulations more than 20 times, seeing high-priced apartments such as Gangnam as the main culprit of rising house prices. However, as demand shifted to mid- to low-priced homes under 600 million won, where regulations are relatively loose due to the’balloon effect’ of regulation, housing prices have risen in the manner of matching keys across Seoul, and mid-to-low-priced apartments that the common people could live in disappeared.

In KB’s monthly statistics, the average selling price of apartments in Seoul was 6708 million won in May 2017, but rose to 869.97 million won earlier this year and soared to 1,042.99 million won in December. It means that you have to have 1 billion won to buy a reasonable apartment in Seoul.

Jang Jae-hyun, head of Real Today Research Division, said, “There is only one place in Seoul that costs less than 20 million won per pyeong of apartments. In a situation where housing supply is scarce, artificially suppressing demand has created a balloon effect in which house prices rise in all directions. With the disappearance of mid- to low-end areas, the burden of housing for the common people is increasing.”

Reporter Kim Chae-hyun [email protected]