The effect of unregulated balloons throughout the metropolitan area and regions … Rebuilding Gangnam is also exciting



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Gangbuk Apartment seen from Namsan, Seoul.  / yunhap news

Gangbuk Apartment seen from Namsan, Seoul. / yunhap news

The overheating of the Seoul apartment market due to the jeonse crisis triggered by the lease law enforcement is spreading to the outskirts of Gyeonggi-do, Busan and Ulsan. Like Gimpo, Gyeonggi-do was included in the regulated area, Paju-si, which sees the reflective gains as unregulated areas, jumped more than 1%, and Busan and Ulsan also increased mainly in apartments in unregulated areas.

Unregulated 'balloon effect' across metropolitan area and regions ... Rebuilding Gangnam is also exciting

According to the weekly trend of apartment prices in the first week of December (as of December 7) announced by the Korea Appraisal Board on the 10th, the sale price of apartments across the country rose by 0.27 %, increasing last week’s increase (0.24%). The sale price of apartments in Seoul rose 0.03%, increasing for 26 consecutive weeks. The rate of increase was the same as last week.

Although the government has introduced pre-generation measures against various transaction regulations, prices continue to rise as demand for apartments in the Gangnam area continues. In particular, the high-priced reconstruction complex in Gangnam has an atmosphere where the buying trend is reviving. It is because Apgujeong Hyundai, the head of Gangnam reconstruction, is stimulating the buying sentiment of the surrounding resorts by establishing the partnership.

Gangnam-gu increased from 0.04% to 0.05% in one week. Songpa-gu and Seocho-gu also increased 0.04%) and 0.03%, respectively. Recently, in Gangnam, when the first reconstruction complexes in the Apgujeong-dong area began to establish a union, Shingo continues a march in the nearby apartment complexes. In Apgujeong Hyundai, out of 6 districts, 1-5 districts exceeded 75% of the resident consent rate, which is the requirement to establish a union. According to the Seoul Real Estate Information Plaza, a 111 por transaction was made exclusively for Hyundai 8th Apgujeong-dong at a reported price of 2.365 million won last month. Apgujeong Hyundai’s seventh car dedicated 245 square meters was also traded at 6.7 billion won at the end of October, raising the reported price.

As the establishment of the reconstruction association accelerates, prices for apartments in Apgujeong-dong, Gangnam-gu increase.  Shinhyundae Apartments included in Apgujeong District 2.  / Hankyung DB

As the establishment of the reconstruction association accelerates, prices for apartments in Apgujeong-dong, Gangnam-gu increase. Shinhyundae Apartments included in Apgujeong District 2. / Hankyung DB

In the Gangbuk region, the increase is growing, mainly where there are favorable development benefits. When the Sanggye-dong Jugong 1 and 6 complexes passed the preliminary security check, Nowon-gu, whose reconstruction expectations increased, jumped 0.05%. In Dongdaemun-gu (0.04%), which is mainly developing in the Cheongnyang-ri station area, house prices have also risen a lot. An official from the Korea Evaluation Board explained: “The environment is increasing due to the influx of purchases in areas where there is an expectation of progress in maintenance projects (establishment of partnerships, approval of preliminary security checks, etc.) or mid-range to low-end complexes. “

In the metropolitan area, when the city of Gimpo is designated as an area subject to adjustment, the ‘balloon effect’ continues, in which the prices of nearby complexes that have avoided regulation rise. In Paju (1.18%), the number of inquiries to buy and prices are increasing. Goyang Ilsanseo (0.97%), Ilsan-dong (0.68%) and Deokyang-gu (0.67%) are also increasing mainly in lower-middle prices. It is found that the house price in Incheon continues to climb 0.15%.

In regional metropolitan cities, apartments are piling up in Haeundae, Suyeong, Dongnae, Yeonje, Nam-gu, Daegu and Suseong-gu, Daegu, and requests for purchase are decreasing, but home prices in neighboring areas are not regulated have increased. Gangseo-gu, Busan (1.32%), which is an unregulated area in Busan, increased, and Saha-gu (0.79%) and Jin-gu (0.78%) are also increasing. Ulsan (0.76%), a region close to Busan, is also strong. Apartment prices in Seongsan-gu (1.15%) and Uichang-gu (0.94%), Changwon, Gyeongnam, which are small and medium-sized cities near Busan, are also rising.

Unregulated 'balloon effect' across metropolitan area and regions ... Rebuilding Gangnam is also exciting

Jeonse prices for apartments across the country continue to climb to the highest level in 7 years. The total set value was up 0.29%, showing the same increase as last week. Apartment rental prices in Seoul have risen for 76 consecutive weeks. An increase rate of 0.14% was recorded.

The Gangnam area, which has a serious shortage of sales, is increasing every day. Gangdong-gu registered a high rate of increase of 0.23%, Seocho and Songpa-gu respectively 0.21% and Gangnam-gu registered a high rate of 0.20%. The Taxation Institute analyzed that “the phenomenon of shortage of sales continues in front of the real demand, and the increase is mainly concentrated in the complexes that are evaluated as having high proximity to school districts and direct management”.

The total price of apartments in the metropolitan area rose 0.24%. In Incheon, Yeonsu-gu (0.82%), Gimpo (1.01%), Goyang Deokyang-gu (0.57%), Seongnam Bundang-gu (0.44%) and Namyangju (0.43%) they were remarkable. Fat was up 0.34% in one week.

Ahn Hye-won, Hankyung.com Reporter [email protected]

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