Even after the new year, Seoul’s house prices are reported every day. The landlord, who had collected the property until the contract was terminated last year, is delighted by the rising house prices saying that the day is far away. On the other hand, even if they sign a contract for a house, they are being driven into unsafe housing until they pay an intermediate payment.
|
With soaring house prices… The landlord who smiles even if the contract is broken
According to the real estate industry on the 13th, unilateral contract cancellation and double compensation by landlords are lined up due to the rise in apartment prices in Seoul.
Mia Byucksan Live Park’s exclusive area of 60 square meters in Mia-dong, Gangbuk-gu, Seoul, was canceled ahead of a trading deal of 450 million won in June of last year. If the landlord cancels the contract, he has to pay double the amount of the down payment, but it is a case of a simple change of mind that the house price will rise more than the loss.
If so, what about the current market price? According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, the latest transaction price of this apartment area type was 600 million won (11th floor) contracted on December 24th. The asking price is up to 630 million won. Even if the down payment is reimbursed, it is possible to earn a margin of over 100 million won.
An official from the A-certified brokerage office near Mia-dong said, “The area around Mia-dong has peaked as the house price has risen significantly since the June 17th measures last year. After that, it was expected that the price of a transaction would rise due to the increase in prices and the accumulation of sales, but contrary to the expectations, the price is gradually rising. He added, “Only the landlords who put out their homes and collected their products after agonizing over them have benefited as a result.”
There is currently no way to prevent the seller from unilaterally canceling the contract until the buyer pays the intermediate payment. If you look at the Civil Act (Article 565 cancellation fee), there are regulations that allow the seller to make double compensation and terminate the contract. However, the seller’s right to terminate the contract may be blocked if the buyer initiates implementation, such as paying an intermediate payment.
Professor Ko Jun-seok of Dongguk University’s Graduate School of Law said, “In the current seller’s dominant market, the buyer has to pay more attention to the contract than usual because there is enough possibility that the seller will cancel the contract due to remorse. It is also a way to pay.” He added, “It is necessary to review how the government regulation and the 2nd Lease Act affect the market again,” he added. “If the system causes the tenant to be in trouble, the revision should also be considered.”
Reports appear one after another in the new year… Hot’Gangbuk’
Despite the government’s continuing regulatory measures and the expansion of supply, the Seoul real estate market continues to show strong house prices until the beginning of the new year.
According to the Ministry of Land, Infrastructure and Transport and the Seoul Real Estate Information Plaza, a total of 125 apartment transactions were made in Seoul for 12 days until the day before the New Year’s Eve, of which 52% (65) were reported as reported or highest.
|
In particular, reported price transactions are occurring one after another, centering on mid- to low-priced apartments in Gangbuk-gu, where the demand for the common people is relatively concentrated. This is because the rise in the price of high-priced apartments in the Gangnam region last year and the jeonse crisis aggravated the rise in the price of mid- to low-priced apartments outside of Seoul, even in the new year.
In the first half of last year, the selling price of 84㎡ for Miss Hanil U&I for Miss Hanil U&I exceeded 700 million won in September of the same year, and the transaction was concluded at 750 million won (2nd floor) on the 2nd of this month. The 60㎡ dedicated to SK North Hansan City in Mia-dong is reported for 670 million won (9th floor) on the 9th and the actual transaction is about 700 million won.
Professor Kwon Dae-jung of the Department of Real Estate at Myongji University said, “After the announcement of the June 17th plan last year, the extent of the increase in house prices has increased further in major regulated areas including Seoul, and the jeonse market unrest triggered by the amendment of the Housing Lease Act is boosting house prices.” said.