It was found that the sale price of apartments in Seoul has steadily increased since July of last year, when the number of apartment purchases in Seoul by 2030 households was the highest ever.
According to Kookmin Bank monthly time series statistics on the 7th, the average selling price of apartments in Seoul rose from 950.33 million won in July last year to 1,099.93 million won in March this year, up 15.7% (149.6 million won) in the new eight months.
According to the statistics of real estate 114, a private market research firm, the average sale price per household in Seoul rose 9.4% (183.44 million won) from 10.09 million won to 11.8853 million won over the same period. Although lower than that of the two private survey companies, the average sale price of apartments in Seoul, which was surveyed by the Korea Real Estate Agency, also rose 2.9% from 88183 million won to 9711 million won during the same period.
Last July was the period when the Real Estate Agency started to compile monthly apartment sales statistics by age group from January 2019, and since then, the number of apartments in Seoul under 30s was the highest. Even after the surge in the purchase of apartments in Seoul by young people that shook the real estate market, apartment prices in Seoul have not stopped rising.
As apartment prices in Seoul have soared since the first half of last year, anxiety spread among younger generations that it would be difficult to prepare a home unless it is now. As a result, the’panic buying’ (panic buying), which buys apartments by’bringing up the purchase money’ (grabbing even the soul) has become intensifying.
According to statistics from the Real Estate Agency, the number of apartment purchases in Seoul under 30s, from 1183 in April last year, rose to 1391 in May, 4013 in June, and 5907 in July, a record high for three consecutive months. Since then, the trend has declined since August due to the government’s successive measures to regulate real estate. Nevertheless, among all age groups, the proportion of apartment purchases in Seoul under 30s rose to the 40% level (40.4%) for the first time in August last year, and remained at the 40% level until recently except in November (39.3%).
After the surge in the purchase of apartments in Seoul by the younger generation, billions of complexes are rising one after another. DMC Raemian e Pyeonhansesang exclusive area 84m2 (18th floor), which was traded at 1.190 million won in July last year, was sold for 1.35 billion won last month. In the eight months, it rose 13.4% (160 million won). The 59㎡ (1st floor) exclusively for Kumho Hyundai in Eungbong-dong, Seongdong-gu, Seoul, was also sold for 850 million won in March from 700 million won in July last year, jumping 21.4% (150 million won).
A representative of a brokerage in Wolgye-dong, Nowon-gu, said, “There were a lot of people in their 20s and 30s who bought apartments in July last year.” Mr. Jo, 33, who bought an apartment in Sinwol-dong, Yangcheon-gu, Seoul in May last year, said, “I bought a 59m2 apartment for 470 million won by receiving the maximum amount of a Bogeumjari loan loan of 300 million won. It was sold for 625 million won.”
Reporter Eun Jung-jin [email protected]
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