Apartments seen from Namsan, Seoul[연합뉴스]
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The sales volume of apartments in Seoul has increased for three consecutive months since September last year. It has been three years since 2017 that the volume of transactions in December, which is considered the’low season’ of real estate transactions, has increased from November.
According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport and the Seoul Real Estate Information Plaza on the 18th, the number of apartment sales in Seoul in December of last year was 6400, exceeding 6315 in November. The volume of apartment transactions in Seoul from 3,769 in September last year increased to 4372 in October, and it steadily increased in November and December. Considering that the reporting period for December transactions is until the end of this month, the transaction volume is expected to increase significantly compared to November.
Geumcheon-gu was the place with the largest increase in trading volume in December. The number of apartment sales in Geumcheon-gu increased from 116 in November to 244, an increase of 128 in December. The increase in transaction volume in Yangcheon-gu (47 cases), Songpa-gu (43 cases), and Seocho-gu (36 cases) was also noticeable.
The volume of transactions was Nowon-gu (667 cases), Gangnam-gu (412 cases), Songpa-gu (409 cases), and Seocho-gu (359 cases) in that order. Transactions were actively conducted around complexes with anticipation for reconstruction and redevelopment. Just as the trading volume in the stock market has a big impact on the price, the apartment trading volume can also be viewed as a leading indicator of price. The stronger the buying force, the more likely the price will rise.
In fact, the number of high-end (reported) transactions also increased from 3396 in November last year to 3478 in December. In Gangnam-gu, 48% (198) of 412 transactions were the highest. In particular, in the case of Apgujeong-dong, which speeds up the reconstruction process, 31 out of 75 were the highest priced deals. Only 16 transactions were made last month in the 1st apartment in Hanyang, Yeongdong, Apgujeong-dong, built in 1977, and 5 were the highest.
In Seocho-gu (201 cases) and Songpa-gu (205 cases), prices are rising along with the increase in transaction volume. According to the Korea Real Estate Agency’s weekly apartment trend as of the 11th, apartment prices in Gangnam-gu and Seocho-gu rose 0.1% compared to the previous week, and in Songpa-gu, 0.14%, the last 6 months (27 weeks) since July 6 (0.18%) last year. New most climbed.
Lim Byeong-cheol, senior researcher at Real Estate 114, said, “The buying trend was relatively strong even in December, which is the seasonal off-season due to the real demand for living due to the jeonse crisis and the progress of the reconstruction project.” There is a possibility that it has increased,” he analyzed.
Meanwhile, the volume of multi-family and row houses in Seoul last month also increased. According to the Seoul Real Estate Information Plaza on the 18th, the number of multifamily and row houses in Seoul last month totaled 4619, an increase of 8.3% (353) compared to the previous month (4266). It can be seen that end-users have turned to the sale of multi-family and row houses instead of apartments due to the chain effect of the soaring apartment price.
In particular, the number of multi-family and row houses sales in January was 703, twice that of apartment transactions (367) during the same period. The Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government recently selected eight places that have great effects on housing supply and improvement of the residential environment, including Heukseok District 2 in Dongjak-gu, as candidates for public redevelopment. The speeding up of the government’s supply measures is also stimulating the purchase of multi-family and row houses.
Reporter Kim Won [email protected]
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