View of the apartment complex along the Han River from Seoul Sky, Lotte World Tower Observation Deck, Songpa-gu, Seoul/Photo = Yonhap News
Despite the government’s various countermeasures, as the jeonse and house prices soared, the sentiment to buy an apartment in the metropolitan area continued to rise, showing that it rose to the highest level ever.
According to the results of the Korea Real Estate Agency survey on the 25th, as of the 18th survey, the metropolitan area apartment sales and demand index recorded 117.2, an increase of 1.9 points from the previous week (115.3). This is the highest since July 2012, when the Korea Real Estate Agency conducted a related investigation.
The trading supply and demand index is an index of the supply and demand ratio by real estate agency analyzing member agency surveys and the number of Internet sales. Closer to ‘0’ means that supply is more than demand, and closer to ‘200’ means that demand is more than supply. If the number is close to the baseline ‘100’, the proportion of supply and demand is similar.
Buying sentiment in the metropolitan area has reached its peak. Gyeonggi (123.1) and Incheon (112.8) recorded the highest figures since the survey side by side. In Gyeonggi Province, after the government signed loans for high-priced apartments as a countermeasure on December 16, 2019, demand for trading passed from Seoul to Gyeonggi and exceeded 100 in December 2019.
It is analyzed that various measures are rather stimulating the buying sentiment. In Gyeonggi Province, regulations were imposed on overheated areas through the June 17th and July 10th measures last year, but it remained above 100, and from the first week of October (107.4) to last week of the same year, the uptrend has not stopped at all. Incheon is a similar pattern to Gyeonggi.
Seoul reached 109.2, the highest in five months since August 3 (111.1), just before the announcement of the August 4 supply measures last year. The real estate agency diagnosed that as the prices of houses in Seoul rose sharply and the jeonse crisis increased, the demand for buying and selling apartments in Gyeonggi and Incheon, which was cheaper than Seoul, was rushing to form a market with a seller’s advantage.
As the buying trend continues, apartment prices in the metropolitan area are continuing high. According to a survey by the Real Estate Agency last week, apartment prices in the metropolitan area rose 0.31% from the previous week, recording the highest increase rate in 8 years and 8 months after the related statistics were prepared.
Seongsu Bae, reporter of Hankyung.com [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution