[아이뉴스24 이수현 기자] As financial authorities take steps to manage household debt and omnidirectional lending regulations continue, the proportion of low-priced apartments among all apartment transactions is increasing. However, there is a high possibility that transactions will slow down when additional policy lending regulations begin to be applied next month.
Panoramic view of Jamsil Apartment [사진=곽영래 기자]
According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system on the 14th, of the 6,353 apartment transactions in Seoul since September 1, when the second stage of the stress debt service ratio (DSR) was implemented, transactions of less than 600 million won were 1,532, accounting for 24.11% of the total. . Compared to the 17.93% proportion of apartment transactions under 600 million won from March to August, when Seoul apartment prices and transaction volume continued to rise, the proportion of low-priced apartment transactions increased.
Monthly, the proportion of apartment transactions under 600 million won, which was 23.45% in March, decreased to 21.77% in April, 19.22% in May, and 15.93% in June. Afterwards, it rose to July (17.09%) and August (17.84%), and then increased to 23.24% in September. In October and November, when the contract reporting period remains, the proportion increased to 23.49% and 39.59%, respectively, compared to September.
The reason why the proportion of apartments worth less than KRW 600 million has increased is interpreted as the influence of the government’s regulation of loans to manage household debt. On September 1, the second stage of stress DSR, which calculates the loan limit by adding a stress additional interest rate, was applied, and interest rates on home mortgage loans and jeonse loans also increased.
This effect of loan regulation was also seen in the average apartment transaction amount. Last month, the average transaction amount for apartments in Seoul was 1,150.3 million won, a decrease of more than 100 million won compared to September (1,240.18 million won). The average transaction amount this month was 955.34 million won, a further decrease compared to October.
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The industry predicted that as lending regulations are strengthened, the proportion of low-priced apartments with relatively less loan burden and ultra-high-priced apartments preferred by consumers with financial resources may increase.
In fact, along with low-priced apartments, the proportion of ultra-high-priced apartment transactions exceeding 3 billion won is also increasing. The proportion of apartment transactions exceeding KRW 3 billion, which was 3.89% from April to August, recorded 4.89% after September when the second stage of stress DSR was applied.
Kim In-man, CEO of the Kim In-man Real Estate Economic Research Institute, said, “As low-priced and high-priced apartments are free from the burden of loans, the proportion of transactions seems to have increased compared to mid-priced housing.” He added, “In the case of low-priced apartments, the price increase rate was lower compared to complexes along the Han River where prices have soared, so demand is higher.” “I was cornered,” he diagnosed.
However, as the government decided to regulate some of Stepping Stone Loans, a policy loan product, for apartments in the metropolitan area next month, the transaction volume of low-priced apartments under 600 million won is expected to be partially affected starting next month. This is because the homes eligible for Stepping Stone loans are low-priced homes under 500 million won (600 million won for newlywed households and households with two or more children).
An apartment complex in the Gangbuk area seen from the North Seoul Dream Forest Observatory in Gangbuk-gu, Seoul [사진=뉴시스]
According to the government, starting from the 2nd of next month, if you receive a stepping stone loan for an apartment located in the metropolitan area, a small rental deposit deduction (air defense system) will be mandatory, reducing the amount available for a stepping stone loan to 55 million won in Seoul and 48 million won in Gyeonggi. In addition, post-secured loans (loans for the balance of unregistered apartments) are also restricted.
CEO Kim said, “If the Stepping Stone loan regulation is implemented, the housing market as a whole will contract. In terms of price, in areas where there are many buyers with sufficient funds, housing prices will trend upward, with new prices being reported even if transaction volume decreases, but transaction volume in other regions will decrease.” He predicted that prices may weaken at the same time.
Park Won-gap, senior real estate expert at KB Kookmin Bank, said, “For young people or working-class people without assets, stepping stone loan regulations can be a burden,” adding, “Demand for mid- to low-priced housing in the outskirts of the metropolitan area is decreasing compared to high-priced housing in core areas of Seoul, such as the Gangnam area and the Han River. “It is,” he explained.
/Reporter Lee Soo-hyun ([email protected])
