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Seller-buyer push-pull ‘strain’
Even with the same type of house, the sale price is different
Minister of Lands, Infrastructure and Transport, Kim Hyun-mi. The recent home price was assessed to have stabilized. (Photo = News 1)
The Seoul apartment market shows a chaotic market. The number of apartments with reported prices increases, while the number of sales increases. Usually when the number of sales in the market increases, the market is formed with the buyer’s advantage, so the sale price is unavoidable, but recently, the price difference is occurring even for the same apartment and the same type of housing.
This is because there is a difference in the sale price depending on the condition of the owner and the tenant. With the application of the new leasing law, the rights of tenants are strengthened and the rent for rent increases, which is also a factor in the popularity of apartments that can be immediately occupied instead of rented apartments. Therefore, although there are many products on the market, local brokers say that truly successful transactions are rare. Explain that the so-called push-pull between buyers and sellers is narrow.
According to the Seoul Real Estate Information Plaza on the 13th, a total of 3,992 apartment transactions in Seoul last month, up a quarter of the previous month (10,647). Although there is a deadline for reporting (30 days), the decline is expected to continue.
‘Stabilization of house prices’ in the Korea Appraisal Board statistics Reduced volume of apartment transactions in Seoul
Statistics show that apartment prices in Seoul have gone through a period of sharp increase and have entered a stable phase. According to the Korea Appraisal Board, the rate of increase in the weekly sale price of apartments across the country as of the 7th was 0.08%, and in Seoul it was 0.01%. An official from the appraisal agency said: “As the transaction declined due to the implementation of the July 10 measures and real economic anxiety caused by concerns about the reappearance of the new coronavirus infection (Corona 19) , the sales trend decreased. ” The price goes up and the uptrend does not stop. “
In the case of Mapo Raemian Prugio, Ahyeon-dong, Mapo-gu, there were 42 emergency sales at the complex. From the end of August to the beginning of September, there were only about 10 quick sales, but as the second week entered, the sales increased. The offering price of the 84㎡ exclusive property is 1.55 billion to 1.9 billion won. The difference in the sale price is 350 million won.
An apartment in the center of Seoul. (News Photo 1)
In the case of DMC Park View Xi Complex 1, Namgajwa-dong, Seodaemun-gu, there are more than 80 quick sales, which was only 40 boxes. The selling price of 84m2 for exclusive use was trading at 1.24 billion won (10th floor) on the 29th of last month, and then the price shows a weakening as a quick sale comes out. The range of appointments has also been expanded. It was formed from 1.15 billion to 1.4 billion won.
A Hyun-dong A-certified brokerage said, “We are constantly asking about purchases, but we are reluctant to buy in the current generation,” he said. “Except for quick sales, the general owners are not lowering prices.”
He added that there are apartments offered by multiple owners and corporations, but they are not at the spill level. In the July 10 measures, the government increased the acquisition tax rate for multiple households and corporations by up to 12%, and raised the high tax rate for the comprehensive property tax to a maximum of 6.0%.
In fact, looking at the house price trend announced by KB Kookmin Bank Real Estate Liveon, Seoul’s Buying Advantage Index fell 5.3 points from Jeonju (101.5) to 96.2, down from 1 point benchmark of 100 in three months. The Gangbuk region increased from 95.4 to 99.3, but Gangnam fell from 103.4 to 97.0.
Looking only at this atmosphere, Secretary Kim Hyun-mi’s diagnosis is somewhat correct. The Minister of Land, Infrastructure and Transport, Kim Hyun-mi, appeared on a radio broadcast on the 9th and said: “In the case of corporations and people with multiple households, there is a change in the market, such as the increase of sales and the decrease in life cases. ” I wonder if the market is stabilizing, like a drop in comparison. “
Apartments with march reports vs apartments with hundreds of millions of dollars
In some complexes, price adjustments or transactions are not possible, but in Gangnam and other apartments, apartments with declared prices still appear. This is different from Minister Kim’s comments that prices are stabilizing downward and that the government’s real estate policy has caused a drop in house prices and is showing an effect from Hong Nam-ki and the Deputy Prime Minister and Minister of Strategy and Finance.
According to the real transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, the sale price of 84 square meters for Helio City in Garak-dong, Songpa-gun, recorded a reported price of 1.97 thousand million won. From last April to May alone, it was around 1.6 billion won. Since then, the bargain price is not constant at 1.92 billion won and 1.88 billion won, but the sale price of the sale is distributed from the end of 1.8 billion won to half of the 2 billion won. Jamsil-dong Trizium (84m2 for exclusive use), a land transaction permit zone, traded at the highest price of 2.2 billion won last month. In July, it traded for 2.1 billion won and then jumped to 2.2 billion won.
Godeok-dong Grasium Apartment with an Offer Price of Hundreds of Million Won based on Purchase Terms (Data Hankyung DB)
In Apgujeong-dong, Gangnam-gu and Seocho-dong, Seocho-gu, the apartment reports are one after another. Apgujeong Hyundai Apartment is showing a jumping phenomenon of hundreds of millions of dollars per area, overlapping with rebuilding expectations. Only three boxes were sold last month for the 156㎡ upscale housing type, which was rarely discussed. All three cases showed the reported price of 4 billion won. Also, prices reported last month were downloaded in most areas ranging from 130㎡ to 245㎡, ranging from 50 to 80 pyeong. Seocho-dong Gyodae e-Pyunhansesang’s exclusive 84㎡ was reported at 2.29 billion won last month, while Seocho Raemian’s exclusive 110㎡ was traded at 2.25 billion won.
In Seongdong-gu, Hawangsimni-dong Centras (84㎡) traded at 1.65 billion won on the 5th of this month, topping 150 million won compared to the previously reported price. Haengdang-dong Doosan We (59㎡) traded for 1.18 billion won, in addition to the reported price.
In the Gangdong-gu area, where the new apartments were concentrated, the transaction price increased considerably. In the case of an apartment where the buyer can move in immediately, the sale price is high, and if a tenant is in use, the sale price is low.
In the case of Grasium, Gangdong-gu, the deposit for the chartered rental at the start of the move last year was 350 million to 400 million won. However, the price of jeonse has recently increased from 700 to 750 million won. With the application of the new leasing law, the security deposit will be collected only tens of millions of won over the next three to four years, so buyers prefer to buy and sell on the condition that they can hire other tenants.
Godeok-dong’s B-accredited brokerage said: “There is an atmosphere where people with multiple households are trying to solve the tax problem by turning their apartments into gifts instead of selling them and turning jeonse into a reverse tax.”
Hankyung.com reporter Kim Hana [email protected]
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