The burden of price soaring due to successive supply policy’hiding’
“Full-scale adjustment of purchase contraction, holding tax, etc. due to rising interest rates”
[서울파이낸스 이서영 기자] 2.4 Apartments prices in Seoul are entering a stable trend in anticipation of supply expansion following supply measures. However, with the opinion that it has entered a breathtaking period due to a sharp price hike rather than a decline in the trend, there are also a few views that it has entered a full-fledged correction period.
According to the actual real estate transaction information of the Ministry of Land, Infrastructure and Transport on the 22nd. Among apartment transactions in Seoul, the number of transactions in which prices declined compared to the previous transaction was only 18.0% (493 out of 2441 total) in January, but increased to 24.9% (415 out of 1,669) in February. In March (as of the 1st to 17th), 38.8% (109 out of 281 cases) increased further.
Complexes with lower prices are found throughout Seoul, including the Gangnam area.
Daechi-dong, Gangnam-gu, Gangnam-gu, the representative reconstruction complex, has an exclusive area of 84 square meters, which is 130 million won from the last month’s 24.24 billion won (6th floor) with a contract signed for 2.320 million won (6th floor) on the 2nd of this month. It was traded at a low price of 10,000 won.
The 89㎡ dedicated to Cheongdamzai in Cheongdam-dong, Gangnam-gu, was 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. In the case of 158㎡ of Seocho 5th e-pyeonhansesang, 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.
The CEO of Apgujeong-dong A Certified Brokerage Office 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. It doesn’t work,” 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.
The 84㎡ of Yongsan KCC Welts Tower in Munbae-dong, Yongsan-gu, was sold for 1.26 billion won (14th floor) on the 8th of this month, and the price dropped 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㎡ of the 7th (high floor) in Sanggye-dong, Nowon-gu, the contract was written for 550 million won (12th floor) on the 12th of this month, down 70 million won from the previous transaction, 620 million won (13th floor), on January 27th. 84.9㎡ of Gyeongnam Honorsville, Oryu-dong, Guro-gu, was reported at 772 million won (17th floor) on the 4th of last month, and traded at 774 million won (20th floor) on the 2nd of this month, which is more than a month after the transaction.
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 2.4 measures, recording the highest rate this year, and then the 6th week (0.09%→0.08%→0.08%→0.07%→0.07%→0.06%). Slowed down.
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 recorded 96.2 in the first week of this month, falling below 100 for the first time this year, 90.3 in the second week, and 82.4 in the third week, falling below 100 for three consecutive weeks. If this index exceeds 100, it means there are many buyers, and if it is less than 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.
Looking at the data of real estate big data company Asil (apartment real estate transaction price), Seoul apartment sales amounted to 46,219, 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%) △ Gwanak-gu (18.3%).
An official from the Korea Real Estate Agency analyzed, “With the government’s successive supply measures, expectations for supply expansion are spreading, and buying sentiment seems to stabilize and house prices seem to turn into a stable trend.”
However, when the opinions of real estate experts are summarized, the observation that it is more appropriate to view the decline in apartment prices in Seoul as a temporary phenomenon ahead of successive supply measures and the June holding tax burden, rather than entering a key change.
Many experts view it as a’hidden’ rather than a decline caused by a trend change, and the reason for this is that apartment prices have risen too quickly so far, so the area that can increase further is limited.
However, although there are few opinions, there is an analysis that expectations for government supply measures and recent interest rate hikes are dampening buyout sentiment, and an increase in the number of multi-homed sales to avoid the holding tax burden caused by an increase in public prices could lead to a full-fledged adjustment tax.
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