Bundang and Ilsan are relatively active in purchases in anticipation of new town renewal
| A Seoul citizen looks at the densely-dense downtown apartments and residential districts from Mt. Inwang. yunhap news |
This year, the proportion of 20 and 30 households buying apartments in Seoul fell to the lowest level in three years.
According to the Korea Real Estate Agency on the 9th, the number of apartment purchases in Seoul by 20 and 30 households from January to August this year totaled 4,150, accounting for 35.0% of the total number of transactions (11,966). This is 6.1%p lower than 41.8% in the same period last year, and the lowest since 2019 (30.4%) when this statistic was first disclosed. It is understood that the number of purchases of ‘young-chul’ (collecting souls) is decreasing as the burden of loan interest increases and house prices fall in earnest in the followingmath of the interest rate hike.
The proportion of apartment purchases in Seoul by 20 and 30 households soared to 44.8%, an all-time high, as Jeonse prices soared and house prices soared in July last year. However, it fell to 38.0% in December last year due to tightening loan regulations such as the total debt-to-income ratio (DSR), which began in earnest in the second half of last year. In the midst of a trading cliff this year, it once once more rose to 42.3% in April, right following the presidential election, in anticipation of deregulation.
The proportion of apartment purchases nationwide in 2030 also rose to 31.1% from January to August last year, but fell to 28.4% this year, falling to the 20% level. The proportion of apartment purchases in Gyeonggi Province between January and August 2030, which had soared to a record high of 36.1% due to a surge in house prices last year, has decreased to 34.5% this year. In particular, it fell to 31.1% in August. However, in the first phase of the new town, purchases by 2030 were relatively active due to the promotion of the maintenance project. In the case of Bundang City (Bundang-gu, Seongnam), the city with the fastest move-in period, the proportion of purchases in 2030 from January to August rose from 33.1% last year to 38.8% this year, the highest since 2019. The proportion of Bundang’s 2030 purchases was only 21.8% in January of this year, but soared to 36.2% in March and 49.8% in April. In Goyang, where Ilsan New Town is located, the proportion of purchases in 2030 from January to August this year was 41.0%, significantly exceeding 37.5% last year. However, as house prices in Goyang fell sharply, the proportion fell from 45.6% in January to 31.8% in August.
Reporter In Ji-hyun
