[미디어SR 박세아 기자] In February, the dropout rate of court auctions for apartments in Seoul and the metropolitan area reached an all-time high.
According to Jiji Auction, a court auction company on the 2nd, 36 out of 45 apartments in Seoul where court auctions were held last month resulted in a successful bid rate of 80%.
This is the first time that the monthly bid rate for apartments in Seoul has exceeded 80%. The previous high was 79.5%, which was recorded in October 2018.
The winning bid rate for Seoul apartments reached 80% for the first time last month, following 52.8% in December last year and 75% in January this year.
It seems that the court auction progress was not smooth due to the spread of Corona 19, and as the number of proceeds decreased, the demand to actively participate in auctions and obtain a successful bid increased.
The average number of bidders increased from 5.8 in November of last year to 9.2 in December of the same year, 10.8 in January of this year, and 11.7 in last month for three consecutive months.
The rate of successful bids for apartments in the metropolitan area, including Seoul, also hit an all-time high. The success rate of apartments in the metropolitan area, which is usually 40-50%, jumped from 52.5% in October last year to 59.3% in November, 67.6% in December, 74.3% in January this year, and 74.7% in February, continuing an upward trend for four consecutive months.
In addition, last month, the successful bid price for villas (multi-family and row houses) in Seoul and the metropolitan area (the ratio of successful bids to appraised prices) was 93.1% and 82.5% respectively.
The villa bid price rate is the highest since July 2016 (93.2%) in Seoul and October 2017 (84.1%) in the metropolitan area.
Oh Myung-won, a researcher at Jiji Auction, said, “As the number of apartments in the metropolitan area in the auction market decreases, the scarcity value has increased.”
Researcher Oh diagnosed with Media SR that “the general trading market demand seems to be spreading to the auction market.”