“I’d rather live in peace…”

(From left) Nationwide home sales volume by month and cumulative home sales volume in November by year [자료 = 국토부]

Last month, the nationwide home sales volume exceeded 100,000 again following October. This year’s cumulative number was 1,390,024, the highest ever since the 2006 statistics were prepared. After the implementation of the new lease law at the end of July (contract renewal request system, jeonse ceiling system), the cheonsei crisis intensified, and it seems that the ‘panic buying’ centered on the homeless end users.

According to data from the Ministry of Land, Infrastructure and Transport on the 24th, the national housing transaction volume in November was 11,6758 cases, up 25.9% from 9,2769 cases a month ago. Trading transactions have increased significantly, mainly in provinces where house prices are fluctuating recently. The volume of trading in the metropolitan area was 41,117, a decrease of 1.8% from 41,884 in October, while the volume of local trading increased by 48.7% (5,885 → 75641). This is a 72.4% increase compared to 43,866 cases in November last year.

The nationwide cheonsei transaction volume in November, which was aggregated based on data on the confirmed date, was 17,3578, an increase of 0.4% from 17,2815 the previous month. Compared to 153,345 cases in the same month last year, it increased by 13.2%.

The number of cases in the metropolitan area increased by 0.7% from the previous month to 11,9961 cases, but in the provinces (53,617 cases) decreased by 0.1%. In Seoul, there were 5,5978 cases, an increase of 0.6% from 5665 cases last month. However, the monthly rent transaction volume is calculated only for contracts with a fixed date, and is not a national approval statistics.

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