Busan house price jumped 4 times after ban on resale
Apartment prices in Ulsan, Gwangju, and Daegu also increased significantly
Experts “Surge the price of existing apartments and sales rights after regulation”
As the resale of pre-sale rights was blocked in September, there is a’balloon effect’, which increases the ransom price of pre-sale rights that came to the market to avoid regulations. A view of apartments and high-rise buildings in Haeundae-gu, Busan. /yunhap news
The price of pre-sale rights in local metropolitan cities is rising to the ceiling. As the resale of pre-sale rights was blocked in September, the’balloon effect’ is appearing, which increases the ransom price of pre-sale rights that came to the market to avoid regulations. A representative example is the pre-sale right, which was completed just before the regulation came out.
According to KB Kookmin Bank’s real estate statistics, apartment prices in Busan rose by an average of 1.1% per month from January to September this year. However, the average monthly increase rate reached 4.1% after October (until November), after the resale restrictions were implemented. The rate of increase is nearly four times higher. Apartments in Ulsan (1.1%→3.1%), Daegu (0.6%→1.9%) and Gwangju (0.3%→1.0%) also jumped.
As the scarcity of pre-sale rights increases, transaction prices have risen significantly. The 74m2 pre-sale ticket for’Doosan We’ve the Zenith Harbor City’, located in the area of Dong-gu, Busan, was traded at 784.75 million won (27th floor) last month, breaking the reported price. Considering that the pre-sale price on the same floor was 3711.6 million won, the price has more than doubled in two years.
A 84㎡ pre-sale ticket for’Hillstate Daegu Opera’ in Buk-gu, Daegu, was also sold for 757.67 million won (29th floor) on the 1st. The sale price of this residential type was around 566 million won. It rose 33.9% in 7 months.
Real House Sales Evaluation Team Leader Kim Byung-ki said, “The atmosphere is rising not only from existing apartments, but also from sales right prices.
The measure to restrict the resale of pre-sale rights has not caught the heat of the pre-sale market. This is because, after the regulation, the price of the house has risen, and consumers are jumping into the sale regardless of the purpose of investment or real purpose. According to the statistics of the Korea Real Estate Agency,’Doosan We’ve the Zenith Central Saha’, which received the No. 1 subscription on the 15th, showed fierce competition with an average of 16.3:1. This is the highest competition rate in the Saha district since 2016. There were 14,355 subscription bankbooks in the first order only.
On the same day,’Hillstate Cutting-Edge’, which was sold in Gwangju Metropolitan City, also rewritten the highest competition rate ever recorded in Gwangju City with a competition rate of 228.7:1 in the first place. With 48,720 people in the number one subscription, it became the apartment with the largest number of subscription bankbooks in Gwangju.
The outlook for the local real estate market to rise is also the highest ever. The nation’s November KB real estate sales price forecast index is 121.6. It was the highest since the start of statistics collection in April 2013. This index surveys KB Kookmin Bank member official brokerages by asking about future market movements. It means that there is a lot of prospects that it will increase as it exceeds 100 in the range from 0 to 200.
An official in the real estate industry pointed out that “the government has poured out its 25th real estate countermeasure so far, but it is not enough to keep up with the rise in house prices.”
Ahn Hye-won, Hankyung.com reporter [email protected]
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