30% of cancellations of apartment sales contracts in Busan, report is canceled after contract

30% of cancellations of apartment sales contracts in Busan, report is canceled after contract

Rep. Chun Joon-ho of the National Territory Committee points out
Operation forces, the act of raising the house price
Suyeong-gu 41.4%, Busanjin-gu 30.7%

Input: 2021-02-22 16:36:21Revision: 2021-02-22 19:18:52Published: 2021-02-22 16:36:56 (p. 13)

Among the transactions canceled after making an apartment sale transaction, it was found that one out of three was canceled after signing a contract at the reported price. This is a suspicious transaction that the operational forces are intentionally trying to increase the house price by raising the actual transaction price. In this case, Ulsan surpassed 50%, reaching No. 1 in the country, and Busan also reached 30%.

Assemblyman Jun-ho Chun (Democratic Party) of the National Assembly’s Land Transportation Committee said, “As a result of analyzing 85,5247 transactions in which actual transactions were uploaded to the public system in 2020, 37,965 (4.4%) of them were cancelled.” 22 Sun said. The transaction cancellation rate was the highest in Busan at 7.0%, followed by Ulsan 6.2% and Sejong 5.6%. Gyeongnam also reached 4.5%.

However, among the canceled transactions, the number of canceled transactions that renewed the reported price reached 19,32, accounting for 31.9%. Of course, it cannot be ruled out if the transaction is actually canceled due to different circumstances between the seller and the buyer, but it is explained that suspicion is raised that it is a false transaction for market price manipulation.

By city and province, 52.5% of cancellation transactions in Ulsan were canceled after reported transactions. Assemblyman Chun said, “Apartment A, which was built alone in the empty field of Ulju-gun, Ulsan, had 34 transactions in one year. Of these, 11 out of 16 cases were reported at the reported price in March alone, and were canceled on March 25. The 18 transactions that have been made since then have also been reported as the reported price, which makes it possible to doubt whether it is to systematically manipulate apartment prices.”

In Busan, 30.0% of cancellation transactions were canceled after signing a contract at the reported price. The number of canceled transactions was 5202, and the number of cancellations after contracting at the reported price reached 1559.

By ward, Seo-gu was the highest with 48.9%, followed by Jung-gu with 45.5% and Suyeong-gu with 41.4%. However, in Seo-gu and Jung-gu, the number of transaction cancellations itself was not much, with 47 and 11 cases. Of the 309 transaction cancellations in Suyeong-gu, 128 cases were canceled after signing a contract at a reported price, and 320 out of 1046 cases in Haeundae-gu were canceled.

Congressman Jun-ho Chun said, “There is a possibility that some speculators systematically made false reports in order to raise apartment prices. We will conduct a thorough investigation by the Ministry of Land, Infrastructure and Transport, and ask for an investigation if there is a problem.”

Lee Young-rae, CEO of Real Estate Survey said, “There are many demands for double compensation in the field, so it will be difficult to say that 100% is a work as shown in this data. However, there are many cases where foreign investors have worked as a group in apartments with many abnormal transactions. I will.”

Minister of Land, Infrastructure and Transport Byun Chang-heum said, “I think it’s a serious problem,” when he received such criticism from Congressman Chun at the National Assembly on the same day. He said, “I think it is necessary to investigate this matter closely and ask for an investigation if falsehood is revealed.”

Reporter Kim Deok-jun [email protected]