There is a cold air in the villa market, which has been booming due to various incentives such as the reduction of the floor area ratio. The atmosphere is falling into a trading cliff because the government has taken out speculative demand blocking cards before development.
According to industry sources on the 8th, after the government announced its 25th real estate countermeasure on the 4th,’redevelopment areas that should not be invested (public redevelopment application areas)’, aka public redevelopment blacklists, began to circulate between online real estate cafes and group chat rooms. .
This is because the government announced that it would be subject to cash settlement without granting the right to move in, even if the area was designated as a public direct-implemented maintenance project or an urban public housing complex in the future related to housing acquired after this day.
In particular, while monitoring the housing market, the government emphasized that it would exclude areas where the transaction price or transaction volume increased by 10-20% from the previous year. It is a life and death risk to block speculative demand according to real estate measures.
Markets interpreted that the government has taken special measures to alleviate the recent overheated demand for villas.
After the enforcement of the Lease 2 Act last year, the purchase of villas that were relatively cheaper than apartments was driven by purchases of villas, which were relatively cheaper than apartments.
In fact, at the beginning of this year, corporate investors flocked to some semi-industrial areas such as Chang-dong, Dobong-gu, Seoul, and the villa purchase frenzy struck by buying 30-40 units each with less than 100 million won. Ahead of the announcement of the pilot project site for public redevelopment, a large number of people selling feet to buy villas crowded at brokerages in Gangbuk.
Since the end of last year, the rate of change in the Seoul Row House Sales Price Index has steadily risen. According to the Korea Real Estate Agency, the Seoul Row House Sales Price Index was only 0.06% in June of last year, but soared to 0.19% in December of last year.
However, since the announcement of real estate measures on the 4th, the villa transaction has been all-stopped. Seongbuk-gu, a representative of an authorized brokerage agency A, said, “The number of customers withholding transactions since the announcement of the countermeasures is increasing,” and “they are complaining of anxiety with the government announcement.
The industry criticizes the excessive government intervention that once again ruined the market. They agree to cut off speculation demand, but they say that it is too early to deprive them of the opportunity to grant the right to occupy in a situation where even the correct development zone is not designated.
In the online real estate community, “imposing sanctions without even designating a zone may violate the owner’s freedom of movement and furthermore, it may lead to infringement of private property resources.” “Government regulations should not restrict normal transactions.” I am receiving this power.
In the industry, it is said that the government is conducting marketing for fear that the villa purchase may be subject to cash settlement, and that it is preventing normal real estate transactions by promoting anxiety.
A real estate expert who requested anonymity said, “This 2-4 real estate countermeasure is in the right direction of supply, but the speed is too fast.” “As we always focus on blocking demand for speculation every time a measure is announced, it is difficult to find consideration for end users. He pointed out that the main culprit of destabilizing the real estate market is the government, not speculators.
On the other hand, the government’s ballooning effect on measures against the 2nd and 4th real estate is expected to further solidify the reconstruction complex and new apartment house prices in Gangnam.
There is an opinion that Gangnam redevelopment complexes are less likely to participate in public maintenance projects led by the government, resulting in increased scarcity. In addition, new apartments that are not related to maintenance projects are likely to be spotlighted as safe investment destinations because they are avoiding the government’s regulatory radar.