54.8% Actual transaction price decreased compared to the previous year
Q1 trading volume was also the lowest on a quarterly basis
The number of subscribers to the housing subscription declines for the first time in history
“It can be interpreted as a sign of a real estate downturn”
In recent years, the proportion of ‘downward transactions’ among apartment transactions in Seoul was over half, the highest in 10 years. An analysis has been raised that the apartment sales market has entered a recession. The number of subscribers decreased for the first time since the housing subscription comprehensive savings system was introduced.
According to Jikbang on the 22nd, the real transaction price data of the Ministry of Land, Infrastructure and Transport for apartment sales transactions from the first quarter of 2013 to the present August of this year showed that the proportion of down transactions nationwide as of July and August was 48.6%.
Downward trading refers to a case in which the actual transaction price is lower than the previous transaction price. During the same period, the share of down transactions in Seoul was 54.8%, the highest since 2013.
Apartment sales are also on the decline. As of the first quarter of 2022, 74,902 cases nationwide and 3333 cases in Seoul were recorded as of the first quarter of 2022, the lowest quarterly since 2013.
Jikbang said, “It increased slightly in the second quarter, but it is still at the lowest level in the last 10 years.” said.
Ham Young-jin, head of Big Data Lab, said, “The recent trend of an increase in the percentage of down-trading as the transaction volume decreases can be interpreted as a signal that the apartment market is transitioning to a downturn.”
Last month, the number of subscribers to the nationwide housing subscription savings account fell for the first time in history. According to the Korea Real Estate Service Subscription Home, as of the end of July, the total number of subscribers to the housing subscription savings account nationwide was 27,01,9253, a decrease of 12,658 compared to the previous month (27,031911).
This is the first time that the number of monthly subscribers has decreased nationwide since the housing subscription savings system was launched in 2009. The number of subscribers in Seoul and the five major metropolitan cities (Busan, Ulsan, Daejeon, Daegu, Gwangju) decreased for two months in a row, and in July, Gyeonggi and Incheon also declined, recording the first nationwide decline.
The number of subscribers in Seoul fell to 6,255,424 in May, 6,251,306 in June, and 6,244,035 in July. The number of subscribers in the five major metropolitan cities also decreased to 5,31,330, 5,309,908, and 5,305,175 during the same period.
Last month, the number of subscribers to the housing subscription savings account in Gyeonggi and Incheon was 8,816,737, down 3,637 from the previous month (882,374). In other regions (eight provinces and Sejong) alone, the number of subscribers increased from 6,65323 to 6,653,306 during this period.
An official from the Real Estate Agency explained, “The increase in subscription account subscribers started to slow from the beginning of last year,” but explained, “The recent stagnation in the real estate market and declining interest in the subscription market seems to be the cause.”
The number of subscribers, such as subscription savings (39,6163 → 394,542), subscription deposits (162,852 → 162,314), and subscription savings (1,08,353 → 1,500,000), which are other subscription deposits They all declined last month.
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