![The appearance of the Dunchon Jugong Apartment Complex that will be judged for the sale price under the sale price limit. [사진 = 매경DB]](https://i0.wp.com/file.mk.co.kr/meet/neds/2021/02/image_readtop_2021_178557_16140772284551300.jpg?w=560&ssl=1)
The appearance of the Dunchon Jugong Apartment Complex that will be judged for the sale price under the sale price limit. [사진 = 매경DB]The Ministry of Land, Infrastructure and Transport is expected to change the method of reviewing the pre-sale price limit again. Depending on the specific details of the changes and the time of application, the number of reconstruction complexes that are about to be sold will be mixed.
On the 22nd, Minister of Land, Infrastructure and Transport Byun Chang-heum said in a report on the National Assembly’s Land, Transport and Transportation Commission, “I will review the plan to improve the sale price ceiling system” This is a response to some of the lawmakers pointing out that “the sale price of houses that applied the sale price ceiling system in recent years is too high.”
It was from last January that voices that the method of judging the pre-sale price limit system should be changed has increased. At the time, the pre-sale price evaluation committee in Seocho-gu, Seoul decided the pre-sale price of Raemian One Bailey apartment in Banpo-dong at 56.6 million won per 3.3㎡. It is about 16% higher than the appropriate pre-sale price of 48.92 million won, which was proposed by the Housing and Urban Guarantee Corporation (HUG) last year, the highest ever in Seoul apartment sale price. Those waiting for subscriptions, who expected to be able to sell major reconstructed apartments in central Seoul at half the price of the surrounding market price if the pre-sale price limit was applied, grew angry at the result. Park Hap-soo, a senior real estate expert at KB Kookmin Bank, said, “Land price accounts for a large proportion in calculating the price of the pre-sale ceiling. Recently, the price of the land in the core area of Seoul has risen significantly, and the pre-sale price is inevitably higher than the HUG price.” The estimated pre-sale price is about 60% of the market price, but the absolute price was high, so it did not meet the expectations of the people.”
One of the most promising methods of changing the evaluation method of the pre-sale price limit is to improve the method of calculating the housing site cost in the method of calculating the pre-sale price consisting of’housing cost + construction cost + additional cost’. One appraiser said, “Before the implementation of the 2019 pre-sale price ceiling system, the government asked us to review the calculation of the land price based on the’housing land construction cost’ during appraisal.” You can induce it to lower,” he explained.
It is also possible to adjust the additional cost, which is determined by adding the various costs required for the construction of the housing site and the cost added to the construction cost. However, since it is a cost item, there is relatively no burden for adjustment, but the effect is not significant as the proportion of pre-sale prices is not high.
Many point out that it is better to abolish the pre-sale price limit at all. One real estate expert pointed out that “the pre-sale price ceiling system does not affect the actual market price,” he said. “It is correct to abolish the system in terms of giving hundreds of millions of lotteries to only a few subscription winners.”
It is also of interest how the reconstruction apartments that have not yet been sold will be affected if the government changes the method of calculating the sale price ceiling. A typical example is Dunchon Jugong Apartment in Gangdong-gu, Seoul. The Dunchon Jugong Reconstruction Association decided to postpone the pre-sale because the pre-sale price suggested by HUG last year was too low and apply the pre-sale price limit. However, if the Ministry of Land, Infrastructure and Transport speeds up the revision of the pre-sale price limit system, Dunchon Jugong Apartments can also be subject to the changed screening method. It is known that Dunchon Jugong is currently preparing an appraisal request for the calculation of the sale price.
On the other hand, HUG, which suggests an appropriate pre-sale price for regions excluding areas subject to the pre-sale price limit, is also refining the screening method. HUG is expected to raise the pre-sale price according to the market price. However, in the industry, even if pre-sale prices rise, the rise will be limited. Yeo Kyung-hee, senior researcher at Real Estate 114, said, “Even if the pre-sale price rises, it will not be achieved significantly.”
[김동은 기자 / 정석환 기자]
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