Last month, the volume of housing transactions has dropped significantly. According to the Ministry of Land, Infrastructure and Transport on the 21st, last month’s housing transaction volume in Seoul was 12,775. It decreased by 27.1% from a year ago and 24.2% from a month ago. ‘Panic buying’ (panic buying), centered on people in their 20s and 40s, also broke. Last month, apartment transactions in Seoul were 4189 cases, down 32.1% from last December (6166 cases).
35% higher than national transaction volume delivery
Seoul decreased by 27% compared to the same period last year
January housing transaction volume
Last month, the nationwide housing transaction volume was 9,679. It was 10.5% less than a year ago and 35.4% less than a month ago. It was only four months since September last year that the nationwide housing transaction volume declined. Last month, housing transactions in the metropolitan area (47,32 cases) fell 25.4% from a month ago.
The rise in apartment prices slowed. According to the Korea Real Estate Agency, apartment prices in Seoul in the third week of February (as of the 15th) rose 0.08% from the previous week. Apartment prices in Seoul rose 0.1% in the first week of February (as of the 1st), recording the highest increase since July of last year. In the second week of February (as of the 8th), it rose by 0.09%.
The national apartment price increase rate slowed from 0.28% in the first week of February to 0.25% in the third week of February. The rate of increase in apartment prices in the metropolitan area also decreased from 0.33% to 0.3% during the same period. Ji-hae Yoon, senior researcher at Real Estate 114, a real estate information company, said, “It has been about 15 days since the 2·4 (housing) supply plan was announced. The wait-and-sees tax of waiting buyers watching the effectiveness of the measures is detected.” He added, “Until the redevelopment/reconstruction pilot area in accordance with the 2nd and 4th measures is confirmed or the legal rights relationship becomes clear, the’tug of war’ phase between sellers and buyers will continue.”
Last month, the nationwide jeon and monthly rent transaction volume was 17,537. It was 2% less than a month ago, but an increase of 3.4% from a year ago. The share of monthly rent in jeon and monthly rent transactions has increased. Last month, the share of monthly rent in Seoul apartment jeon and monthly rent was 39.5%. Compared to January last year (26.8%), it increased by 12.7 percentage points.
Reporter Kim Won [email protected]