Seoul apartment prices calm down… Complexes that have lowered the actual transaction price appear one after another

Transaction price declined compared to the previous transaction only 18%→25%→39% from January to March

“Expectations for supply expansion are influenced by the rise of the company’s charge and the increase in the published price”

Apartment complex around Songpa-gu, Seoul
Apartment complex around Songpa-gu, Seoul

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(Seoul = Yonhap News) Reporter Kim Dong-gyu = Analysis that the rise in apartment prices in Seoul is slowly entering a stable trend.

It is analyzed that the buying advantage market is changing as buying sentiment declines in anticipation of supply expansion due to the 2·4 housing supply plan, and the rise in mortgage loan interest rates and the tax burden arising from the increase in quoted prices are visible.

According to the actual real estate transaction information of the Ministry of Land, Infrastructure and Transport on the 21st, among apartment transactions in Seoul after the 2nd and 4th supply measures, the number of apartment transactions in Seoul where prices declined compared to the previous transaction is increasing.

The number of transactions whose price declined from the previous transaction was only 18.0% in January (493 out of 2,441), but increased to 24.9% (415 out of 1,669) in February, and March (1-17) Standard) The trend is gradually increasing to 38.8% (109 out of 281 cases).

Complexes with lower prices are found throughout Seoul, including the Gangnam area.

In the case of 84㎡ of exclusive area for Eunma Apartment in Daechi-dong, Gangnam-gu, which is one of the representative reconstruction complexes, the most recent contract was written for 2.23 billion won (6th floor) on the 2nd of this month, compared to the previous transaction of 2.45 billion won (6th floor) on the 24th of last month. It was traded at a lower price of 30 million won.

89.1m2 for Cheongdamzai, Cheongdam-dong, Gangnam-gu, is also sold at 3.15 billion won (32th floor) on the 6th of this month, down 10% (350 million won) compared to 3.5 billion won (11th floor) on the 3rd of last month.

Seocho-gu apartment complex
Seocho-gu apartment complex

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In the case of 158.2㎡ of the 5th e-pyeonhansesang in Seocho-dong, Seocho-gu, it was sold at 1.83 billion won (7th floor) on the 3rd of this month, and the transaction was made at 170 million won lower than 2 billion won (2nd floor) on January 20, just before.

Apgujeong-dong A certified representative said, “In the Gangnam area, the price of the house jumped in anticipation that the reconstruction would speed up, but now, the perception that it has risen is spreading, so the sale with a little lower price becomes a transaction, and the house that will receive the right price becomes a transaction. “It is not in a state” he said.

In the outskirts of the Gangnam area, such as’Mayongseong’ (Mapo, Yongsan, Seongdong-gu), where there are many high-priced apartments, and’Nodogang’ (Nowon, Dobong, Gangbuk-gu), and’Geumcheon, Gwanak, Guro-gu,’ It is not difficult to find deals that have lowered prices.

Yongsan KCC Welts Tower 84.0㎡, in Munbae-dong, Yongsan-gu, was sold for 1.06 billion won (14th floor) on the 8th of this month, and the price fell by 165 million won from the end of last year (1.225 billion won) when the price rose was in full swing.

Haengdangjin Town 114.6㎡ in Haengdang-dong, Seongdong-gu, was sold for 1.43 billion won (13th floor) on the 2nd of this month, and 40 million won lower than 1.47 billion won (9th floor) on the 21st of last month.

In the case of 45.9㎡ of 45.9㎡ in Sanggye-dong, Nowon-gu, on the 12th of this month, a contract was written for 550 million won (12th floor), down 70 million won from the previous transaction, 620 million won (13th floor).

SK-Buk Hansan City 84.8m2 in Mia-dong, Gangbuk-gu, fell from 764 million won (17th floor) on the 15th of last month to 730 million won (14th floor) on the 6th of this month. After the transaction was reported at 2 million won (17th floor), the sale was made at 740 million won (20th floor) on the 2nd of this month, which is more than a month.

B official representative of Guro-gu said, “This is a relatively cheap house in Seoul, so transactions were made one after another at the declared price until last month. However, after the 2-4 measures and the announcement of the new city, the supply of the house will increase and the house price will not increase further, so he hesitated to buy it. There is an atmosphere. Inquiries have decreased.”

Seoul apartment price increase (CG)
Seoul apartment price increase (CG)

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According to the Korea Real Estate Agency survey, apartment prices in Seoul rose 0.10% in the first week of February, just before the announcement of the 2 and 4 measures, recording the highest increase this year for 6 consecutive weeks (0.09%→0.08%→0.08%→0.07%→0.07%→0.06). %) The rise has slowed.

The sentiment on buying apartments in Seoul, which has only soared so far, is also calming this month.

KB Real Estate’s Buying Advantage Index fell below 100 for the first time this year to 96.2 for one week this month, and recorded 90.3 for two weeks and 82.4 for three weeks, falling below 100 for three consecutive weeks. If this index exceeds 100, it means there are many buyers, and if it is below 100, it means the opposite.

In this atmosphere, sales are gradually accumulating in the trading market, which is interpreted as a signal that the market, which had been selling superiority, is gradually changing to a buying advantage.

According to real estate big data company Asil (apartment real estate transaction price), apartment sales in Seoul amounted to 46,000,219, up 14.3% from a month ago (February 21). Dobong-gu (24.4%) had the highest sales increase rate, followed by Dongdaemun-gu (22.7%), Nowon-gu (22.1%), Seodaemun-gu (21.8%), Eunpyeong-gu (19.4%), and Gwanak-gu (18.3%).

An official from the Real Estate Agency analyzed that “the government’s successive supply measures increase the expectation of supply expansion, thereby stabilizing the buying sentiment and turning the house price into a stable trend.”

Gwarim-dong, Siheung-si, Gyeonggi-do, and Noonsa-dong, Gwangmyeong-si, designated as the 3rd new city
Gwarim-dong, Siheung-si, Gyeonggi-do, and Noonsa-dong, Gwangmyeong-si, designated as the 3rd new city

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Experts say that it is unreasonable to say that apartment prices in Seoul have entered a period of decline. I predicted it would.

KB Kookmin Bank’s senior real estate expert expert Park Won-gap said, “Recently, US government bond rates are rebounding and domestic banks should also pay attention to the atmosphere of raising the mortgage interest rate.” It becomes a burden and can affect the entire real estate market.”

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