Nationwide sales volume 298,000 cases, sales amount 139 trillion won
Seoul transaction volume 112% year-on-year, transaction amount 124%
It was revealed that the volume and transaction amount of apartment sales in Seoul through August of this year both exceeded last year’s sales volume.
According to the analysis of real estate transaction prices by the Ministry of Land, Infrastructure and Transport on the 9th, the number of apartment sales transactions nationwide from January to August this year was 301,395, and the total transaction amount was 139.3445 trillion won.
The transaction volume has already exceeded the annual transaction volume of 298,084 in 2023, and the total transaction amount is estimated to have reached 92% of last year’s amount (KRW 151.7508 trillion).
By region, the metropolitan area recorded 141,911 transactions as of August, reaching 90% of the annual transaction volume (156,952) last year. The total transaction amount was 96.8442 trillion won, exceeding the total transaction amount for the entire year (93.3531 trillion won) last year.
This is analyzed to be largely due to the influence of Seoul, where apartment prices are showing strength.
The actual transaction volume in Seoul was 38,247 cases, and the total transaction amount was 44.9045 trillion won, which is a 112% increase in transaction volume and 124% increase in total transaction amount compared to last year.
The number of apartment transactions in Seoul began to increase in March and rose sharply in June. In particular, the reported price ratio in Seoul exceeded 10% in April and rose to 12.6% in August.
The proportion of rising transactions in Seoul also accounted for more than half in July and August, with many being traded at higher prices than the previous price. It is analyzed that the buying sentiment was stimulated by concerns about rising rents for apartments in Seoul, supply shortages, and the prospect of interest rate cuts in the second half of the year.
The surrounding Gyeonggi and Incheon regions were also affected, and the metropolitan area apartment sales market saw a significant increase in both transaction volume and transaction amount starting in June, reaching the level of last year.
In the case of non-metropolitan areas, 159,484 transactions were made as of August this year, and the total transaction amount was 42.5002 trillion won. Compared to the entire year of 2023, the transaction volume is 72%, and the total transaction amount is 73%.
Jikbang predicted that, “Amid the implementation of loan regulations and government measures such as expanding supply due to factors such as continued price increases and household loan management, the Seoul apartment market for the remainder of 2024 is expected to be mixed,” adding, “Along with the implementation of the stressed debt service ratio (DSR), commercial banks are reducing the limit on loans for living stabilization funds for multiple home owners and making it impossible to conditionally acquire ownership transfers for jeonse loans, making gap investments or excessive loans difficult, which is expected to reduce the purchasing power for investment purchases.”
He continued, “If the demand for conversion to sale increases due to rising rents and supply shortages, there is still a possibility that the rise in apartment prices in Seoul will accelerate again,” adding, “Also, in popular areas such as Gangnam, even if funds are limited, demand for apartments that are competitive with market prices is expected to continue, mainly among the cash-rich.”
[서울=뉴시스]
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2024-09-09 04:54:41