“Let’s buy it once”… Unsold sales in the metropolitan area drop sharply due to’panic buying’

As buying sentiment centered on’panning buying (panic buying)’ is growing due to the increase in purchase and sale of housing in the metropolitan area, not only completed apartments but also unsold quantities are rapidly exhausting.

According to data from the Ministry of Land, Infrastructure and Transport on the 9th, as of the end of December last year, 2131 households in the metropolitan area, down 33.05% from the previous month (3183 households). Compared to December 2019 (6202 households) a year ago, it is a whopping 65.64% decrease.

The decline in unsold sales is also showing similar patterns outside the metropolitan area. Yangju City, which was once called the’Tomb of Unsold’, sharply declined 93.32% (629 households → 42 households, see Gyeonggi-do Office data) in the month of November to December last year. Anseong-si and Pyeongtaek-si, which had a lot of unsold items, also decreased by 24.15% and 12.57% during the same period, respectively.

Jung Seong-jin, CEO of Urban Asset Management, said, “We are actively buying because of the increasing anxiety that’now is the cheapest,’ centered on the younger generation due to the continuously rising apartment prices.” As the supply of housing in the metropolitan area is expected to decrease, interest is drawing more attention to the pre-sale complex.

As of the third quarter of last year, the average initial sale rate of private apartments in the metropolitan area reached 99% (refer to data from the Korea Housing Association). During this period, the initial sales rates in Seoul and Gyeonggi recorded 100% and 97.6%, respectively. ‘Yangpyeong Damun District Bando Yubora Ivy Park’ and’Hill State Uijeongbu Station’, which began selling in August and December last year, recorded 100% contract rates for all households after 5 days of contract, 3 days of party contract and pre-winner contract period. There is a bar.

Thanks to this situation, new sales in the metropolitan area are also being followed. Representative workplaces include’e-pyeonhansesang Gapyeong First One’ in Daegok-ri, Gapyeong-eup, Gapyeong-gun, Gyeonggi-do (only 59-84㎡ 472 households), Hillstate Yongin Dunjeon Station (exclusively 59-84㎡ 1721 households), Gorim-dong, Cheoin-gu, Yongin-si, Gyeonggi-do, Bongdam, Hwaseong-si, Gyeonggi-do Donghwa District’Bongdamzai Rafine’ (only 750 households of 59~109㎡), and’CitioCL 3 complex’, Hakik-dong, Michuhol-gu, Incheon (75~136㎡ 977 units for apartment, 902 rooms of 27~84㎡ for officetel) .

CEO Jeong said, “The phenomenon that demand is moving to the outskirts of the metropolitan area rather than Seoul, where it is difficult to purchase due to strengthening loans, has not been seen in the past.” “Recently, tenants tired of high jeonse prices are rapidly changing their direction to purchase houses. It seems difficult to subside.”

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