According to KB Kookmin Bank monthly time series statistics on the 7th, the average selling price of apartments in Seoul rose from 950.33 million won in July last year to 1.09.93 million won in last month, up 149.6 million won (15.7%) in the new eight months.
According to the statistics of real estate 114, another private market research firm, the average sale price per household in Seoul during this period rose 9.4% from 1.09.09 million won to 1.18853 million won.
Statistics from the Korea Real Estate Agency, a government-approved market price survey agency, showed that the average sale price of apartments in Seoul rose by 2.9% from 8183 million won to 97.1 billion won over the same period, indicating that the increase rate was lower than that of private market price survey companies.
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In July of last year, the number of apartment purchases in Seoul by age group began in January 2019, and since then, the number of apartment purchases in Seoul under 30s was the highest. The number of purchases of Seoul apartments under 30s was 1183 in April and May last year. 1391 cases, 4013 cases in June, and 5907 cases in July, increased for 3 consecutive months, reaching a record high.
As the prices of apartments in Seoul soared to the sky, anxiety spread among the younger that it would be difficult to prepare my own home unless it is now, and’panic buying’ (panic buying) to buy apartments through’young chil’ (grabbing the soul). This was castrated.
As a result of the government’s successive measures to regulate real estate, the number of apartment purchases under 30s decreased from August, but the proportion of apartment purchases in Seoul, which accounts for all age groups under 30s, rose to the 40% range (40.4%) for the first time in August.
The proportion of apartment purchases in Seoul under 30s remained at around 40% until recently, except in November last year (39.3%).
At the time, Minister of Land, Infrastructure and Transport Kim Hyun-mi, who attended the National Assembly at the end of August last year, said that he felt sad that young people under their 30s were receiving sales such as multi-homed people from the strengthening of the real estate tax system.
However, even after the surge in the purchase of apartments in Seoul by young people that shook the real estate market, apartment prices in Seoul have not stopped rising.
The 18th floor of DMC Raemian e Pyunhansesang, a dedicated area of 84.92㎡, in Bukgajwa-dong, Seodaemun-gu, Seoul, rose from 1.190 million won on July 29 last year to 1.35 billion won on the 20th of last month, and the actual transaction price rose 160 million won (13.4%).
The first floor of 59.91㎡ exclusively for Kumho Hyundai, Eungbong-dong, Seongdong-gu, Seoul, jumped 150 million won (21.4%) from 700 million won on July 4 last year to 850 million won on March 6 this year.
A real estate agency representative in Wolgye-dong, Nowon-gu said, “There were a lot of people in their 20s and 30s who bought apartments in July last year. “It was right,” he said.