Turn and turn,’Gangnam’… Aripak 4.5 billion, Tower Palace 5.5 billion-Maeil Economy

The end of the year is a market trend of’Gangnam unbeaten’, with the government’s swearing to catch the’Gangnam house price’. Gangnam’s three districts (Gangnam, Seocho, and Songpa) rank second to fourth in the number of reports, while the weekly sales price increase was close to 0.3%. In view of this, experts assessed that it was a planned failure of the policy of’grabbing a house in a specific area’, which is unprecedented worldwide.

According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport on the 4th, Gangnam 3 districts ranked second to fourth with the highest number of reports in Seoul last month. The number of reports of apartment sales in Gangnam-gu was 112 cases, excluding Nowon-gu (144 cases). Following Gangnam-gu, Songpa-gu and Seocho-gu recorded 109 and 105 cases, respectively. Tower Palace 1 in Dogok-dong, Gangnam-gu (222㎡·5.5 billion won) and Acro River Park in Banpo-dong, Seocho-gu (129㎡·4.85 billion won, 112㎡·4.5 billion won) are representative.

In addition to the new price, there is also a full-fledged price hike recently. According to the Korea Real Estate Agency, the rate of change in the weekly apartment sales price in Gangnam 3 districts was less than 0.02% every week from July 27 to November 16 last year, but from the last week of November, there was a re-raising movement (Gangnam 0.04%, Seocho and Songpa 0.03% each). And in December the weekly gains increased. Last month, the combined trading price increase rate was 0.32% in Songpa-gu, 0.28% in Seocho-gu, and 0.27% in Gangnam-gu.

However, it is unreasonable to view the surge in housing prices in Gangnam as speculative demand. Hak-ryul Kim, director of SmartTube, said, “This is a place where loans are not available at all, so it is more like a concept that some people buy things in the future.” It means that the demand for’a smart one’ continues.

In fact, Gangnam is already an overheated district and most apartments are worth over 1.5 billion won, making it impossible to mortgage mortgages. Daechi, Samsung, Cheongdam-dong, Gangnam-gu, and Jamsil-dong, Songpa-gu are permitted land transactions. The policies that the government can use are exhausted.

Song In-ho, head of the Korea Development Institute (KDI), director of economic strategy research, said, “The idea that you can get a house price in a specific area is an uncommon point of view,” he said. “If goods are scarce, it is natural that the scarcity of goods increases the price. “I have no choice but to spread, but this is the current phenomenon,” he said.

The government has designated the entire Seoul area as an overheated and controlled area from the beginning of power. However, as the nationwide house prices rose due to the successive balloon effect, the regulatory area was widened. In December of last year, the government newly designated 36 areas nationwide as target areas for adjustment, and out of 266 cities, counties, and gus across the country, 49 areas were classified as overheated speculation districts, and 111 areas were grouped as areas subject to adjustment. In an attempt to capture Gangnam, virtually all of the areas with apartments in the large complex were designated as regulated areas.

When the government was eager to catch a house in Gangnam, the “residential stability,” which should be the top priority of real estate policy, collapsed. With the second lease law (right to apply for renewal of contracts and the jeonse ceiling system), which took effect at the end of July of last year, the jeonse crisis was aggravated.

According to Asil (apartment real estate transaction price), a real estate big data company, the number of chartered items in Seoul was 1,6837 households as of 4 days, down 1.9% from the end of last year (17,173 households). As some demand turned to trading due to the continuing surge in jeonse prices, cheonsei products, which temporarily increased at the end of last year, turned to decline again. In addition, as the jeonse crisis, which started centering on apartments, spread, the rent and monthly set prices of officetels increased significantly. According to the Korea Real Estate Agency, in the fourth quarter of last year, the total price of officetels nationwide rose 0.62%, up from the previous quarter (0.27%).

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