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Easing of Real Estate Regulations and Rising Housing Prices in Seoul

[앵커]

Due to the easing of real estate regulations and the freeze on interest rates, housing prices in Seoul have been rising for 18 consecutive weeks and are approaching 90% of their previous high.

However, in rural areas, polarization is deepening, with unsold properties piling up.

Reporter Lee Dong-woo looked into the outlook for the real estate market in the second half of the year.

[기자]

An apartment in Apgujeong-dong, Gangnam-gu, Seoul

Last month, an exclusive area of ​​161㎡ was traded for 5.3 billion won, a record price.

The previous highest price was 3.6 billion won in November 2019, but it jumped by 1.7 billion won in 3 years and 9 months.

A 241㎡ residential-commercial complex in Seongsu-dong, Seoul also broke a new record, rising by 1.55 billion won from 8.45 billion won in 2021 to 10 billion won last month.

In addition, other apartments such as Banpo-dong, Seocho-gu, Daechi-dong, Gangnam-gu, and Yeouido are also breaking their reported prices one after another.

One out of 10 recently traded Seoul apartments is at the reported price.

Thanks to this buying trend, apartment prices in Seoul have recovered to 87% of the previous high, and in particular, Gangnam, Seocho, and Yongsan-gu have risen to more than 90% of the previous high.

[고종완 / 한국자산관리연구원 원장 : 주택 공급 물량 부족과 분양 시장 호조세, 서울 중심으로 전세가격이 오르고 있기 때문에 이러한 상승 흐름이 하반기에도 이어질 것으로 예상됩니다.]

Thanks to the rising housing prices, new apartment sales in Seoul continue to sell out amid high competition.

As construction material and labor costs soared, the average selling price of apartments in Seoul also rose 44% in five months, exceeding 37 million won per 3.3㎡.

However, local areas are suffering from a serious shortage of unsold properties and polarization is gradually deepening.

Experts predict that the rise in housing prices in the metropolitan area is likely to slow down in the second half of the year.

[박원갑 / KB 국민은행 부동산 수석전문위원 : 역전세난이 계속되는데다 고금리에 특례보금자리론 같은 일부 대출상품 판매가 제한되기 때문에 수요가 둔화될 수 있고요. 하반기에는 피부로 느끼는 상승세는 상반기보다는 주춤할 것으로 예상됩니다.]

[함영진 / 직방 빅데이터랩장 : 수도권 위주의 가격 상승 흐름은 이어질 수 있겠지만 연초에 비해 급매물이 소진됐고 경기 둔화 이슈가 있어서 가격의 상승 흐름이나 거래량은 제한적일 것으로 판단됩니다.]

However, due to the surge in construction costs, housing starts have plummeted by more than half compared to last year, permits and permits have decreased by 30%, and sales have also decreased by 44%, raising the possibility that housing prices will rise sharply in two to three years.

Accordingly, the government announced measures to promote housing supply, but it is expected that we will have to wait a little longer to see whether they will actually be effective in the market.

This is Lee Dong-woo of YTN.

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2023-10-01 21:06:00
#Increasing #polarization #real #estate #market.. #market #outlook #year

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