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【Youth Diary】 The housing market rarely finds stability. The rate of increase in apartment prices in the metropolitan area skyrocketed to the highest level in about nine years, and Seoul also rose for three consecutive weeks.
As of March, an unclassified subscription, commonly known as ‘Joop Joop’, can only be applied by homeless people residing in the area.
Recently, in the commercial real estate market, there is an active movement to transform downtown office buildings into residential spaces such as offices and rental homes.
◆ Metropolitan home prices increased the highest in 8 years and 8 months
The Korea Real Estate Agency said that in the third week of January, apartment sales in the metropolitan area rose 0.31% compared to the previous week. The weekly growth rate is the highest in 8 years and 8 months since May 2012.
Apartments in Yangju, Gyeonggi-do, increased 1.27% for a week, and Goyang (0.95%) and Namyangju (0.77%) also increased. The Real Estate Agency said: “The increase was notable, mainly in areas where there is an expectation of improving the transport environment, such as the GTX (Metropolitan Express Railway) and the extension of the metro.”
Apartment prices in Seoul increased 0.09%, but the rate of increase is steadily increasing in “Gangnam 3 districts” such as Songpa (0.18%) and Gangnam (0.11%). In Songpa-gu, the prices of apartments in advance of reconstruction, such as the “Jamsil Jugong 5 Complex” and the “Olympians’ Village” have risen a lot.
◆ Eradication of ‘Joopsup Dwarf’ intended for lottery subscriptions
For the unrated subscription, which is known as ‘Joyup’, only homeless people residing in the area can apply for a subscription, so the overheating is expected to disappear, as the competition rate of hundreds of thousands of units will increase for the ‘subscription lottery’.
The Ministry of Land, Infrastructure and Transportation has decided to change the eligibility to apply for unclassified amounts due to the cancellation of contracts after selecting the winners of the subscription to adults who are members of homeless households in the area of housing construction. corresponding (if / gun).
The Ministry of Land, Infrastructure and Transport announced the revised legislative bill of the ‘Housing Supply Rules’ with these contents as the main point.
◆ Office building, transformed into residential facility …
Following the hotel renovation boom in the early 2010s and the shared office boom two to three years ago, the market trend for large-scale construction has shifted towards the conversion of urban office buildings into residential spaces such as offices and rental houses.
According to the office sales market trend data published by Shinyoung Asset, 11 medium-large buildings (more than 3300m2 area) marketed in Seoul last year were intended to be developed for residential use, such as offices, rental houses and urban accommodation facilities.
The demand for residential space continues to increase. There is a constant demand for one or two person households who want to live in the city center, which is close to work and well equipped with convenient facilities. In particular, the supply of new apartments in Seoul is low, so the demand for office shelters as an alternative product is also increasing.
◆ Homes disposed of by corporations … individuals received them all
In December of last year, corporations dumped their homes in bulk to ease the burden of property and capital gains taxes, which have strengthened since this year. In a short period of time, sales poured into the market, and as individuals bought most of the homes offered by corporations, home prices rose significantly.
At the end of the year, leading up to the off-season, real estate experts interpret the increase in corporate housing transactions as “to avoid a tax bomb.”
Ji-young Yang, director of the R&C Research Institute, said: “The fact that, although the number of corporations and some people with multiple households increased, the demand for a house was much higher means that the demand for a house was much higher. “.
◆ 34 to 113 in 3 years … Average apartment transaction price increased by more than one billion
Apgujeong-dong, Gangnam-gu, Seoul, has the highest median apartment transaction price in the country. Last year, the median transaction price per apartment was estimated at 22.9 billion won, approaching 3 billion won.
After Apgujeong-dong, the actual average transaction price is higher in Banpo-dong, Seocho-gu, Yongsan-dong 5-ga, Yongsan-gu, Daechi-dong, Gangnam-gu, Seobinggo-dong, Yongsan-gu , Dogok-dong, Gangnam-gu and Jamwon-dong, Seocho-dong.
Since the inauguration of the Moon Jae-in administration, housing prices have risen sharply in Seoul over the past three years, and the average transaction price of more than 1 billion won has also skyrocketed. The actual average transaction price exceeded 1 billion won by 34 dong in 2017, but tripled to 113 dong in 2020.
◆ Sale of land in the border area around Paju
It is announced that the land, which is 35 times the area of Yeouido in Seoul, will be removed from the protected area of the military installation this year.
Investor interest in land in Paju, Gyeonggi-do and nearby regions, which is being sold by Gyeonggi Saemaeul, an agricultural company specializing in cross-border land since 2011, is increasing.
The area that borders Paju is close to the metropolitan area such as Seoul, and is connected to the north and south through National Route 1 and Dorasan Station. When issues related to unification arise, such as the Kaesong Industrial Complex and the inter-Korean summit, the demand for investment tends to increase.
◆ The ‘Leasing Law’, a seed of conflict between landlords and tenants
Disputes between landlords and tenants increased dramatically as last year’s revised Housing Lease Protection Act was urgently implemented. It is noted that the ‘seed of conflict’ was nurtured by retroactively applying the lease law to existing contracts during the period when the rent of the cheonsei fluctuated …
Although mediation by the Dispute Mediation Committee can lead to a quick settlement without having to go to a lawsuit, there are many cases of dissatisfaction with the result of the mediation or of giving up in the middle because there is no coercion.
The government published a comment on the leasing law in August last year, but the court ruling can be changed as much as the interpretation of the government’s vote.
◆ Controversy over high sales prices, residential complex in Sejong city… Administration of ‘response’ of the minutes of private meetings
The residential-commercial complex ‘Sejong Richencia Familia’, which is buying the anger of the public due to the controversy over high pre-sale prices, is controversial this time due to the revision of the pre-sale price.
The government reorganized the housing law in July 2019, with the aim of revealing the list of pre-sale review committees and the minutes of the agenda meetings in July 2019, saying that reasonable pre-sale prices and transparency are ensured.
According to Article 69 of the Execution Decree of the Ministry of Land, Infrastructure and Transport, Sejong City stated that the minutes of the meeting should be disclosed by reading if there is a disclosure request after the tenant selection date, and that the minutes cannot be released to the general public in advance.
It has been criticized that even if a problem is found in a meeting after the subscription ends, disclosure at a time when the sale price cannot be returned is meaningless.
◆ The Chinese who received 5.6 billion loans from domestic banks and bought 7.8 billion houses in Itaewon.
A Chinese man bought a house worth 7.8 billion won in Itaewon-dong, Yongsan-gu, Seoul last year, and borrowed 5.9 billion won, which is 76% of the money, from a national bank.
Additionally, Democratic Party representative So Byung-hoon said, “Recently, the number of foreigners buying real estate for rental businesses in Korea is increasing.”
“It has been confirmed that they are turning to shopping centers or commercial houses that are not regulated by government loans such as the Mortgage Recognition Index (LTV) and the Total Debt Payment Index (DTI).”
He argued that “to prevent foreigners from speculating in real estate in Korea, it is necessary to strengthen regulation by revising the ‘Banking Law’ and the ‘Banking Supervision Regulations’ to introduce the mortgage recognition index and the total repayment index of the debt for commercial and commercial housing. “
◆ Daewoo E&C, development of integrated real estate information systems
Daewoo E&C and Real Estate 114 developed a system to comprehensively analyze the real estate market. The integrated real estate information system implements a variety of real estate-related big data so that varied information can be quickly verified with simple operations.
Various data, such as subscription information, population information, economic situation, real estate policy information, etc., along with basic information related to housing, such as occupancy, market price and sales, are intuitively verified on the map through the GIS function.
The most important feature is that it has advanced market analysis by introducing regional ratings and sales price calculation functions for the first time in the industry. For regional grade assessment, it is possible to select promising regions in town and village units by establishing an assessment model.
【Youth Daily = Reporter by phone number】
