[이뉴스투데이 박예진 기자] As the range of decline in housing prices increases day by day, the number of transactions lower than the official price is increasing, centering on apartments. If the real estate price decline continues, the official price reversal phenomenon is expected to become more frequent this year.
According to Jikbang on the 22nd, the number of apartment sales transactions lower than the national minimum public price was 124 as of December. This is an increase of about 153% in three months since 49 cases in October. Compared to the previous month (95 cases), it increased by 30.5%.
In particular, transactions in Seoul, Gyeonggi, and Incheon accounted for more than half (50.81%) with 63 cases.
At the same time, the extent of decline in apartment sales prices nationwide also showed a broadening trend. Looking at the rate of change of the apartment sales price index of the Korea Real Estate Agency, the nationwide trend of price decline intensified with △October -1.20% △November -2.02% △December -2.91%.
In the metropolitan area, apartment sales prices fell by about 2.55% on average per month, with △October -1.52% △November -2.49% △December -3.66%.
Experts predict that if this downward trend of apartments continues, even if the official price is returned to the level of 2020, the trend of increasing apartment sales transactions lower than the official price will continue.
Earlier, the government announced that it would lower the official price realization rate this year by 3.7%p from 72.7% to 69%.
However, as about half of the reverse transactions where the official price is higher than the sale price are made through direct transactions, an analysis is raised that reducing the realization rate will not be an alternative. Direct transactions occur for various reasons, such as gifting by a person with a special relationship or special circumstances.
In a situation where there are increasing cases of trading for reasons such as avoiding gift tax amid a falling real estate market, reverse transactions may increase regardless of fluctuations in published prices.
Looking at the number of apartment sales transactions that are lower than the national minimum public price investigated by Jikbang, direct transactions account for 45.9% of the total with 57 cases. Looking at the top 30 transactions with a high difference between the published price and the transaction price, the proportion of direct transactions rises to 60%.
An employee in the appraisal industry said, “If the official price realization rate is restored to 69%, the level of 2020, reverse transactions will probably decrease.” The sample size is small, so market stabilization should be done first.”
Even if a real estate transaction is made at a price lower than the published price, the dominant voice is that it is difficult to view it simply as market unrest, as it may be a transaction by a special situation or a specially related person.
In addition, in some studies, it was found that the rate of realization of publicly announced prices for townhouses and lands rather decreased. According to an investigation by the Federation for Economic Justice, the published price of apartments also showed differences in the market price reflection rate, ranging from 70 to 80% of the market price by complex and 30 to 40% of the market price by parcel.
Accordingly, there is criticism that a reasonable and fair system should be prepared from a comprehensive perspective, rather than simply returning the official price realization rate to the level of 2020.
“The horizontal equity of apartments and detached houses is deteriorating, and the actual transaction price reflection rate of detached houses and land announced by region is also lower than that announced by the Ministry of Land, Infrastructure and Transport,” said Professor Seo Jin-hyeong of Gyeongin Women’s University, co-representative of the Fair Housing Forum. “We need to come up with a plan to improve vertical and horizontal equity through a full review,” he explained.
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