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Panoramic view of Samik Beach, Namcheon-dong, Suyeong-gu, Busan. (Material photo from News 1) © News 1Apartment prices in Busan are rising. Housing prices in major reconstruction complexes were found to have increased by more than 1 billion won in just one year. Since the restructuring target area was lifted in November last year, the buying trend has increased, and as remodeling and maintenance projects are actively promoted, home prices appear to have risen significantly.
According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport on the 4th, the 131st dedicated to ‘Samik Beach’ in Namcheon-dong, Suyeong-gu, Busan signed a sale contract for 1 , 94 billion won (10th floor) on the 17th of last month. This is more than 1 billion won from the actual price of the transaction a year ago. This type of home posted an actual transaction price of 900 million won (second floor) in November last year.
Samik Beach is considered the representative recreation complex of Suyeong-gu. The complex is a super large scale with 3060 homes at 33 dong around 148-4, Namcheon-dong, Suyeong-gu. Through reconstruction, it will be transformed into 3,200 homes with 2 basement levels and 61 above-ground floors. The construction cost alone amounts to KRW 1,234.9 billion, and the construction company is GS E&C.
The reconstruction of other regions is similar. Samho Garden Mansion in U-dong, Haeundae-gu (Udong District 1 Reconstruction) changed its own housing type from 84.99m2 to 1.08 billion won on the 10th of last month. As of October last year, the actual transaction amounted to 500 million won, but the market price doubled within a year. The same goes for the prices of relatively small reconstruction apartments. On the 24th of last month, the 50.76㎡ of 50.76㎡ was signed exclusively for Changsin Mansion in Banyeo-dong, Haeundae-gu, for a sale of 315 million won. It’s more than double the actual transaction price (156 million won) in December of last year. The reconstruction of the Changsin mansion is located in the 4th district of Banyeo. The project implementation plan was approved in August and a new 536-home apartment will be built as a reconstruction project. The contractor is Daelim Industrial. The reason why the price of reconstruction apartments in major Busan areas has doubled from a year ago is due to the release of regulated areas, the influx of purchase tax, and active maintenance projects.
In November last year, the government excluded Haeundae, Suyeong and Dongnae-gu in Busan from the areas subject to adjustment. The tax on purchases flowed directly and house prices began to rise sharply. In December last year, Haeundae-gu was up 2.34%, and Suyeong-gu and Dongnae-gu were also up 1.71% and 1.39%, respectively.
This year, the rise and fall have been repeated, but the entire Busan area is showing a strong rise. This is because the unregulated ballooning buying trend is in full swing.
According to Asil, an apartment price information site, the busiest apartment in Busan since October was Jugong 3, Danggam-dong, Busanjin-gu. 80 items were marketed in about a month. The Gaegeumjugong 2 Complex, across the street from this apartment, also signed 67 sales contracts during the same period.
Both complexes are apartments aged 30 years after completion, and are expected to be rebuilt. House prices are also on the rise. The 49.9m2 for exclusive use of the Jugong 3 complex increased from 130 million won at the end of last year to 270 million won on 25 last month, registering a reported price.
Since apartment prices have doubled for a year, there are voices that they need to be regulated again.
At the Public Opinion Plaza of the Ministry of Land, Infrastructure and Transport, demands for the designation of areas subject to adjustments in Busan are rushing. An audience who posted the article said, “I have never seen such a surge while living in Busan” and “It is full of news that a speculative force is arriving by bus from Seoul. Once you have completed the quantitative factor, adjust it. “
(Seoul = News 1)
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