Due to the sharp drop in house prices last year, the number of apartments that are traded at prices lower than the official price of multi-family housing has increased significantly. It is analyzed that if the official price is higher than the actual transaction price, there is a high risk of a can charter phenomenon due to an increase in the amount of loan or guarantee.
On the 27th, the real estate brokerage company Ziptos analyzed the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport. As a result, in the fourth quarter of last year, 303 cases in the metropolitan area were traded at less than the lowest published price for the same area in the complex. This is more than 14 times higher than the first quarter of the same year (45 cases).
Excluding direct transactions that are traded below the market price for reasons such as gifting, 232 of the brokerage transactions were changed to less than the official price.
The drop in individual complexes is even greater. A 101㎡ apartment dedicated to Seohee Yongchang Apartment in Seocho-gu, Seoul was traded for 934.8 million won last month. It is 245.2 million won lower than the lowest official price (1.18 billion won) for the same area in the complex.
Gangnam-gu’Gaepo Jugong Complex 6′ exclusive 83㎡ was traded for 1.9 billion won, about 100 million won lower than the lowest official price of 2.08 billion won through brokerage last month.
Even in Gyeonggi and Incheon, where the official price has risen significantly due to a sharp rise in sales prices by 2021, transactions that are below the official price are continuing. The 121m2 area dedicated to ‘Humansia Cheonggye Village’ in Uiwang-si, Gyeonggi-do was traded at 700 million won, down 200 million won from the lowest official price last month (894 million won).
The 84㎡ dedicated to ‘Hillstate Lake Songdo 2nd’ in Yeonsu-gu, Incheon changed hands for 630 million won, 72 million won lower than the lowest official price (702 million won) in November last year.
Experts are concerned that if the publicly announced price is higher than the market price, the appraised value may be inflated, leading to excessive lending. This is because the value of the target housing collateral is usually judged in the range before and after ‘140% of the public price of the apartment house’ for various housing support loans.
Jin Tae-in, head of the apartment brokerage team at Ziptos, said, “If the official price is higher than the actual transaction amount, the loan or guarantee amount may increase, resulting in a can charter or non-performing loan.” If it is high, there is a concern that the tax burden of end users will increase,” he pointed out.
Reporter Lee Hye-in [email protected]
