The explosive buying trend slightly subsides
The highest going on the Seoul line, a drop of 300 million to 400 million won
Lee Cheol seems to be a measure of the market flow
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In February, amid the real estate transaction cliff phenomenon, the reported transaction ratio also decreased. It is observed that this phenomenon is due to the fact that buyers and sellers are becoming aware of the fatigue caused by a surge in house prices. Experts believe that this March will be a short-term inflection point for the market.
◇ Looking at the rate of reported rates in February, 3 out of 10 cases = As a result of an analysis by the Seoul Economic Daily on the 28th, it was found that the rate of transactions reported in apartments decreased in February this year. In January, when house prices continued to rise, the rate of transactions reported on apartments nationwide was 43%, but in February, the rate was calculated at 31%. It fell from 4 out of 10 cases nationwide to 3 cases.
In Seoul, which is a barometer of house prices, there was a clear trend of falling in the reported price ratio. The number of reported transactions made in Seoul in January amounted to 2,760, accounting for 77% of the total transaction, but in February, it has plunged to 63%. In fact, in Seoul, trading at a lower price than the previous transaction is being captured. The 59.98㎡ for’Dogok Rexle’ in Dogok-dong, Gangnam-gu, was changed for 2.3 billion won in January, but in February, the same equilibrium was sold for 1.89 billion won, which fell more than 400 million won. The 84 square meters dedicated to Banpozai in Banpo-dong, Seocho-gu, have been traded at 2.95 billion won and 2.8 billion won respectively in February after the reported price was renewed at 3.1 billion won in January. It is a price that is up to 300 million won from the highest price.
It is the same in Gyeonggi Province. In February, the reported transaction rate for apartments in Gyeonggi was 46%. It decreased by more than 10 percentage points from the January figure of 60%. The ratio of reported transactions in Incheon, which was 46% in January, fell to 38% in February. Local metropolitan cities have a similar atmosphere. In all cities and provinces nationwide except Gangwon and Sejong, the reported rate decreased. Busan also dropped from 34% to 30%, Daegu from 49% to 35%, and Daejeon from 52% to 39%.
◇ Decreasing trading volume, March is an inflection point = The trading volume itself is also decreasing. The number of apartment sales in Seoul from 7,519 in December of last year decreased from 5,683 in January to 1,458 in February. February trading volume is still over a month left, but considering the current trend, it is expected to be around 3,000. The number of transactions in apartments in the Gyeonggi area is also decreasing. Transaction volume rose to 23,593 in December of last year, to 18,083 in January, and decreased to 7,857 in February, less than 10,000. The market predicts that even if the count is completed, there will be only 15,000 cases.
The weaker trading is also revealed in the statistics of the’buy and demand trend’, which indicates the market’s supply and demand index. If the trading supply and demand index expressed as a number from 0 to 200 exceeds the reference point of 100, it means that there are more buyers in the market than sellers. According to the Korea Real Estate Agency, the sales supply and demand index for apartments in Seoul in the fourth week of February recorded 109.8, which was lower than the previous week. Although there are still more people who want to buy apartments than those who want to sell, the index declines for three consecutive weeks, and the explosive buying trend in Seoul is slightly subside. Even on a national basis, the trading supply and demand index, which had recently risen to 115, declined to 114.2 in the fourth week of February.
The market believes that the March flow of Lee Cheol will be a short-term inflection point. Professor Seo Jin-hyung of Kyungin Women’s University said, “As the government repeatedly issued a policy not to buy or sell apartments, the transaction has slowed down, and it is difficult to see this as a sign of a decline in house prices.” However, it will be difficult to stabilize housing prices in Seoul.”
◇ Apartment report price transaction rate (Unit: %)
| January | February | |
| Nationwide | 43 | 31 |
| Seoul | 77 | 63 |
| game | 60 | 46 |
| Busan | 34 | 30 |
| Dae-gu | 49 | 35 |
| Daejeon | 52 | 39 |
※Note: As of February 26th
Material: straight
/ Reporter Jiyoon Yang [email protected]
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