Input 2021.02.25 14:00
According to the Democratic Party’s office on the 25th, 37965 (4.4%) of the 85,5247 cases registered in the actual transaction price system of the Ministry of Land, Infrastructure and Transport last year were canceled afterwards, of which 11,932 were registered at the highest price ever. It was canceled. This is 31.9% of the number of cancellations.
The government and the ruling party saw this as a speculative movement and announced a tough response. Prime Minister Jeong Sye-gyun ordered the relevant ministries to “take strong measures” on the 22nd, and the Democratic Party leader Kim Tae-yeon said on the 24th, “Look for market disruptions through a thorough investigation.”
However, some people in the real estate market say that they do not understand. This is because there are many cases in which the prices of houses are continuously rising, and thus, there are many cases in which such cases are high even in canceled transactions. Is it possible to connect with speculation simply because there were many transactions with the highest price among canceled transactions?
The example of Jagok-dong is representative. An official of the A-certified brokerage in Jagok-dong said, “After the report was issued at the ward office, I only re-reported inevitably because it was impossible to modify the documentary evidence.” It does not mean that a false report was made and canceled at the report price, but a re-report due to a simple error.
In fact, a survey of recent transaction cases revealed that out of the total cancellation cases, more than half were difficult to see as speculation promotion. As a result of analyzing 13,047 apartment sales transactions in Seoul (based on February 23), which were registered as transactions from December of last year to January of this year in the Ministry of Land, Infrastructure and Transport’s open system, the actual transaction price report was canceled. Was counted as 201 cases (1.5%).
Among them, 131 cases, or 65.1%, were’duplicate reports’ in which one more report with the same content remained. It means it was a simple mistake. There are two main reasons for reporting duplicates. The most frequent case is when the two brokerages participating in the transaction report the actual transaction price separately.
An official from the Korea Certified Brokers Association said, “Because of the nature of common real estate transactions, there are many cases where the brokerages that have the sale and the brokerages that visit the buyer are different,” he said. “It often happens that they report the actual transaction price.” In the process of correcting these errors, it means that the’contract cancellation history’ remains.
Even if various supporting documents submitted while buying and selling a house need to be modified, the details of the actual transaction price report will be cancelled. From October last year, if you buy a house in a regulated area, you must submit a financing plan regardless of the price. It is a complex procedure that requires submitting a certificate of deposit balance, stock transaction statement, tax payment certificate, income amount certificate, and financial transaction confirmation to prove the funding plan.
An official at Gangnam-gu Office said, “After receiving the transaction report certificate, the funding plan and supporting data cannot be modified,” he said. “If correction is necessary, we are guiding you to cancel the existing report and report the actual transaction price.”
There were many cases in which the actual transaction price report was canceled due to the seller’s remorse. This is due to the rapid rise in house prices. The 36㎡ dedicated to’Jugong 17 Complex’ in Chang-dong, Dobong-gu, was reported for 345 million won on January 14 and was canceled on February 6.
An official from a nearby B-accredited brokerage said, “This is a case where the seller paid double compensation and canceled the contract as the price of the apartment in Chang-dong surged due to the favorable conditions of the metropolitan express railway (GTX) line C.” I know that.”
Lim Byeong-cheol, senior researcher at Real Estate 114, said, “In Gimpo, etc., housing prices have surged for a short time, and there are many cases where landlords have duly compensated and canceled contracts legitimately.” .
Experts believe that it is difficult to shake the market by registering and canceling the actual transaction price by default. Lee Eun-hyung, a senior researcher at the Korea Institute for Construction Policy, said, “The items registered and canceled at the actual transaction price are only a small part of the entire real estate transaction, and this transaction is not a serious situation that shakes the entire real estate market and raises the house price.”
However, the government has come up with various alternatives, saying that actual transactions block the forces that manipulate market prices by repeating registration and cancellation. The actual transaction price is reported as the housing registration time, or the real transaction price is reported by an authorized broker on the day of the contract.
Again, among real estate experts, many point out that it is generally excessive. Professor Shim Gyo-eon of Konkuk University’s Department of Real Estate said, “It is about increasing the benefits of society instead of increasing discomfort, but it is difficult to make and enforce punishment regulations, and it is not necessary to give incentives, so it will be difficult to operate properly.”
Some commented that it would be better to have the reason for the cancellation written together. Jikbang Big Data Lab Director Ham Young-jin said, “I think it is better to specify the reason whether it is a duplicate report when canceling a contract in which the actual transaction is registered, or whether it is a double compensation due to the change of intention of the seller or buyer.”