A view of the Han Riverside apartment complex from Seoul Sky, the observatory at Lotte World Tower, Songpa-gu, Seoul. /yunhap news
”After the 2nd and 4th measures came out, inquiries from those who wish to buy have increased a lot. People say that in order not to lose money by buying a house, you should buy a new apartment that does not have the possibility of public-led development.” (Mapo-gu M Certified Representative)
Although the government announced a supply plan to pour 830,000 units, including 320,000 units, to Seoul, the market has not stabilized, but consumers are flocking to new apartments. After the announcement of the measures, it was announced that it would not give priority to redevelopment and reconstruction (occupancy rights) in the case of business sites that were developed under the initiative of the public.
On the 7th, brokerages near several new complexes located in Seoul and the metropolitan area gathered saying, “The number of buyers is increasing and the sellers are raising quotations.” After the ‘2·4 real estate countermeasures’ came out, there is a prospect that in the short term, the ransom price of new apartments and new apartment tenants could increase further.
After the announcement of the measures… Mapo·Songpa new construction up to 150 million won
On the 4th, when new real estate measures came out, the price of a 59㎡ occupancy right for Mapo Mapo Prestige, located in Yeomni-dong, Mapo-gu, soared to 1.7 billion won after the announcement from the mid-to-late half of 1.5 billion before the announcement. It was up to 150 million won or more.
Immediately after the announcement of 84㎡ for Helio City in Garak-dong, Songpa-gu, which has entered its fourth year, the quotation rose by up to 150 million won. “After the countermeasures came out, the authorized representative of Y near the complex said, “After the countermeasures, the sale of redevelopment and reconstruction complexes became difficult, and the sellers who believed that demand would be concentrated in the new apartments are raising their quotes every other day.” It has risen to 2.2 billion won.”
On the 4th, when the government announced its 25th real estate countermeasure, a real estate agency in Seoul is watching the news. The government promotes reconstruction and redevelopment projects directly implemented by the public in order to dramatically increase the supply of housing in large cities such as Seoul. /yunhap news
Previously, the government decided not to give priority to real estate buyers after public-led development after the announcement of measures through measures 2 and 4. If the redevelopment or reconstruction project site is included in the’Public Direct Implementation Maintenance Project’ and the’City Public Housing Complex Project’ in the future, cash is unconditionally liquidated after development is completed. In fact, it tied up the deal. Buyers are rushing to demand where public-led development is unlikely. A typical place is a new apartment. In the market, they say, “The balloon effect has begun with a new apartment.”
“The redevelopment/reconstruction housing price will fall”
For a while, inquiries for investment were cut off in the villa, where real demand and investment demand had been rising together. This is because public-led development can be promoted a few years later even if it is a housing intended for real residence that is not related to the maintenance project at the time of purchase. In the case of housing that is likely to be redeveloped, demand for purchase has largely disappeared. The market believes that it will be difficult to sell a house for the time being, and the market price may fall.
An official at the H brokerage office in Dongjak-gu, Seoul said, “If it is designated as a public-led redevelopment area, there will be no profits and cash settlement regulations will be applied, but there will be consumers who will buy it.” It is not the same,” he predicted.
It is expected that the reconstruction complex will also be closed for the time being and the price will drop. In the online real estate community, complaints such as “You have to buy only ambiguous constructions or expensive new constructions that can never be redeveloped or rebuilt in public” and “I don’t know when the supply will be, but you are saying that you should only buy jeon or rent?” Some brokerages near the complexes that are promoting reconstruction in Seoul and the metropolitan area also said, “In many cases, those who wished to buy a house withdrew their intention to buy.”
Y-authorized representative, who mainly brokers apartments scheduled for reconstruction near Sanggye-dong, Nowon-gu, said, “I told people who came to buy a house to withhold the sale for investment purposes.” “If the reconstruction is undertaken by the public in the future, it is necessary to pay cash. It’s off.” A certified representative, located near the Gwangmyeong Haan-dong redevelopment promotion complex, also analyzed, “All consumers who had previously indicated their intention to buy a house have stepped back to watch.”
Ahn Hye-won, Hankyung.com reporter [email protected]