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◇ Incredible real estate statistics
Confidence in property statistics by well-established statistical agencies has especially increased. This is because the difference in the statistical results of each institution is too great. According to the Korea Real Estate Agency, apartment prices across the country this year rose 5.7% in November. However, according to statistics from KB Real Estate, a private statistician, the rate of increase in apartment prices across the country was 7.3%. The gap in the sale price of apartments in Seoul is greater. Korea Real Estate Agency was up 2.2%, while KB Real Estate’s statistics were up 10.9%. The difference is almost 5 times. The reason for this difference is that the survey methods, samples, number of samples, and calculation methods of the two institutions are different. However, there are many criticisms about the Korea Real Estate Agency. This is because the number of samples is one third that of KB Real Estate. President Moon Jae-in was also sympathetic to the problem and ordered an improvement.
◇ Missing real estate forgeries
When the revised ‘Licensed Brokerage Act’ bill was implemented, which imposes a fine of less than 5 million won on real estate brokers who posted fake or exaggerated properties on the internet, apartment sales in Seoul fell. drastically online. It can be said that this proves that false and exaggerated sales were widespread in the market. Until now, the crackdown on fake sales was left to the autonomy of the brokerage industry. This is a method that the Korea Autonomous Internet Policy Organization (KISO), an alliance of real estate partners (CP) on the portal site, receives and verifies false sales reports. To avoid the hassle of the calling process, most brokerage firms often voluntarily dismiss it as a bogus sale immediately after reporting.
◇ Controversy over a trading system without brokerage and brokerage commissions
The Ministry of Strategy and Finance included an item called ‘real estate transactions without intermediaries’ in the details of ‘demonstration of the use of blockchain in 19 fields’ in next year’s budget. With this initiation, there was a backlash from public intermediaries, and 2,03274 people (intermediaries, etc.) acceded to the petition that began on September 21. Consequently, the government confirmed that “the establishment of a real estate transaction system without intermediaries is not being reviewed. However, it also said that it would listen to the voices of the public on the level of brokerage and repair of real estate. In fact, as noted. Since the brokerage commissions to be paid to brokerage companies have increased significantly due to the increase in housing prices, the National Rights Commission has proposed measures to improve the system for calculating brokerage commissions.
◇ Kim Hyun-mi and Byeon Chang-heum
On December 4, President Moon Jae-in replaced the Minister of Lands, Infrastructure and Transportation, Kim Hyun-mi. It is known that President Moon was initially cautious about the replacement, having deep confidence in Kim and fearing that a replacement could cause confusion in the consistency of the policy and acknowledged the failure of the real estate policy. However, part of this can be interpreted as being reflected in the public’s distrust of the minister in charge increasing as national house prices rose and the jeonse crisis also overlapped. The new candidate for Minister of Land, Infrastructure and Transportation is Byeon Chang-heum, who was president of the Korea Land and Housing Corporation (LH). On the 23rd, a personal audience will be held for nominee Byun Chang-heum, drawing attention.
◇ Tax regulation and supply measures in 2021
In August this year, a bill came out to strengthen supply measures and taxes. First of all, the amount and timing of advance subscriptions were made known through the August 4 supply measures. From next July until 2022, the advance subscription of 60,000 apartments for public sale will be in progress in the third new cities, including the Gyosan district in Hanam, Gyeonggi-do, and in public housing areas in the metropolitan area, such as the Gwacheon district and the site of the Yongsan maintenance warehouse in Seoul. Advance subscription is a system in which apartments are delivered one or two years before the main subscription. After winning, the homeless person must stay until the main subscription. Also, changes to the tax system will take place starting next year as legislation is passed to strengthen taxes on real estate, such as the acquisition and property tax. In particular, the overall rate of real estate tax is raised to a maximum of 6%. In addition, as various tax changes are being implemented, it is noted that if you do not understand them in advance, you may suffer damage.
