“I should have bought a house last year… I jumped 100 million in 3 months” Horror

“I should have bought it at the end of last year, but if I can’t buy it this time, I’m worried that I might miss the timing again.”

Mr. Park (39), an office worker living in Gangdong-gu, Seoul, is suffering from rising apartment prices. The complex she was eyeing to buy when a sudden sale came out was because the new asking price had risen by 100 million won in three months. “She is worried about whether she should buy a house now or wait a little longer,” she said.

Buying in the real estate market is reviving as demand for non-homeowners and single-homeowners transfers is concentrated. The number of apartment transactions in Seoul exceeded 4,000, and the successful bid price ratio (ratio of successful bid price to appraisal price) in apartment auctions soared to the mid-80s. The high bid price for apartments in the Gangnam area, such as Gangnam and Seocho, is raising the overall average.

○Exceeded 4,000 cases in Seoul, recovery of transaction volumeAccording to the June Housing Trends of the Ministry of Land, Infrastructure and Transport on the 3rd, the number of apartment sales in Seoul was counted at 4136 in June. It is the highest since August 2021 and more than doubled from the same period last year (2014 cases).

The apartment transaction volume in Seoul was dry enough to be only 1,161 in January. However, after the government’s all-round deregulation, such as the drastic lifting of regulated areas and the easing of restrictions on resale of lot rights, the number of cases has steadily increased, with 2981 cases in April and 3711 cases in May. It is expected that the transaction volume of last month, which is the off-season for real estate transactions, will record more than 3,000.

By region (as of June), Songpa-gu had the highest number of sales with 295. Gangnam-gu followed with 293 cases, followed by Gwanak-gu (288 cases), Nowon-gu (270 cases), Gangdong-gu (256 cases), and Gangseo-gu (222 cases).

It is an analysis that transactions were made evenly in popular residential areas such as the Gangnam area and areas with relatively many low-cost apartments such as Gwanak-gu and Nowon-gu. This means that single-householders who want to change to higher-grade land and homeless people who use special housing loans are moving. Yeo Kyung-hee, senior researcher at Real Estate R114 , said, “The market moves in such a way that house prices increase먹튀검증 mainly in large-scale constructions such as Songpa-gu and Gangdong-gu, and the rest of the region narrows the price gap.” The percentage of purchases by end users is high,” he explained.

It was found that sales and housing transactions in Seoul more than doubled in a month. According to the Seoul Real Estate Information Plaza, there were 85 transactions of apartment sales and occupancy rights in Seoul in June. It is a figure that has increased more than four times from January (20 cases), and is the highest in two years and six months after December 2020 (82 cases).

○Intense bidding competition for apartments in the Gangnam areaThe atmosphere in the auction market, which is considered a leading indicator of the real estate market, is also changing. According to GIG Auction, an auction and public auction data company, the successful bid price for apartments in Seoul last month was 86.2%, up 5.3 percentage points from June. This is the highest in nine months since October last year (88.6%).

The Seoul apartment bid price soared to 119% in June 2021, but fell to 76.5% in December last year with a series of interest rate hikes. Since rising to 81.1% in May, it has maintained the 80% line.

The trend of recovery is remarkable, especially in the Gangnam area, including the 3 districts of Gangnam (Gangnam, Seocho, and Songpa-gu). Last month, the successful bid price rate in Gangnam District 3 was 90.4%, 4.2 percentage points higher than the Seoul average (86.2%).

There are successive cases of winning bids that exceed the appraisal price. Apgujeong Hyundai 4th exclusive area 118㎡ found a new owner at 5.52 billion won, 124% of the appraised value (4.43 billion won) on the first sale date held on the 12th of last month. A 111㎡ apartment for Ssangyong Platinum Value, a residential and commercial complex in Yeoksam-dong, showed a successful bid price rate of 105.4% as 7 bidders flocked to it.

Lee Joo-hyun, a senior researcher at Jiji Auction, said, “As real estate purchase sentiment has recovered considerably, the successful bid price rate for reconstructed apartments has risen significantly.” However, he predicted, “As uncertainties such as interest rates are high, there will be a tendency to differentiate by region rather than buying all products.”

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