2022. 12. 19. 12:09ㆍ카테고리 없음
Apartment prices and transaction volume this year are at an all-time low...Jeonse transaction volume overtakes apartment sales
Monthly apartment prices in the metropolitan area of the country have fallen by a record high
Apartment sales transactions fell below 500,000 for the first time this year
The total amount of sales has decreased by more than 100 trillion won
Jeonse transaction volume 546,000 cases...an overtaking of sales volume
This year, the price fluctuation rate and transaction volume of the apartment sales market are expected to be the lowest since the Korea Real Estate Agency released statistics. This is because the housing market cooled quickly as demand sentiment shrank significantly due to increased financial cost burdens caused by interest rate hikes and the impact of the global economic downturn. As apartment transactions are at the bottom, jeonse transactions are expected to surpass apartment transactions for the first time this year.
According to Zigbang on the 19th, the decline is growing closer to the end of the year as the monthly fluctuation rate of apartment prices in February this year has shifted to a drop. The downward shift was slower than in the Seoul metropolitan area as the provincial government turned downward in May, but the rate of change in apartment sales prices in November this year recorded -2.02%, -2.49% in the Seoul metropolitan area, and -1.57% in the provincial area. Both the nation, the metropolitan area, and the local area are the largest monthly decline ever.
By city and province, it got off in all regions except Jeonbuk, Jeju, and Gangwon. In particular, Sejong's price fluctuation rate recorded -12.0%, the biggest drop in apartment prices in the country. Seoul also fell sharply to -4.9%, while Ulsan, Gyeonggi, Daejeon, Incheon, and Daegu fell more than 5.0%. The decline in certain areas was more pronounced than in provincial areas, apparently due to the sluggish economy and interest rate hikes in areas where investment was concentrated in the city center.
National apartment sales volume by province
Apartment transactions are expected to fall below jeonse transactions for the first time this year as apartment transactions show an all-time transaction cliff level. From January to October this year, apartment sales transactions are expected to reach 262,000 nationwide, the lowest transaction volume ever, and less than 500,000 for the first time. There were 76,000 transactions in the metropolitan area and 186,000 transactions in the provinces. The Seoul metropolitan area still needs to add two months of trading, as it is a tally until October this year, but if the trading trend continues so far, the trading volume is expected to be less than 100,000.
As sales in the Seoul metropolitan area are in a state of death, transactions in the Seoul metropolitan area are expected to be less than in the provinces this year. As of the 14th, the total amount of apartment sales transactions is expected to be 70.8 trillion won nationwide, down more than 100 trillion won from last year. If the current transaction flow continues, it is highly likely that it will not surpass 80 trillion won and remain at a similar level to 2007. The metropolitan area is expected to surpass the metropolitan area for the first time since 2010, with 33.3 trillion won and 37.5 trillion won in provincial areas.
Jeonse transaction volume of apartments nationwide by province
The volume of lease transactions is also sluggish. As of the 14th, apartment lease transactions were 546,000 nationwide, down 46,000 from 592,000 in 2021. However, the volume of lease transactions decreased compared to last year, but the decrease was smaller than that of sales transactions as the volume of transactions remained more than 500,000 cases. This year, apartment lease transactions recorded 333,000 in the Seoul metropolitan area and 213,000 in provincial areas.
This year's apartment lease prices have also been on the same price movement as the sales market as the decline has been on the rise since it turned downward. In November this year, the rate of change in apartment jeonse prices was -2.36 percent nationwide, -3.21 percent in the Seoul metropolitan area, and -1.57 percent in provincial areas, the lowest monthly rate of change ever, just like the sales price.
Ham Young-jin, head of Zigbang Big Data Lab, said, "The increase in interest rates is believed to be the reason for the fall in jeonse prices."
This year, the total amount of apartment lease transactions recorded 177.4 trillion won nationwide. This year, the total amount of apartment lease transactions is 106.7 trillion won higher than the total amount of sales transactions, and it was the first time that the total amount of lease transactions across the country has reversed since related data was released in 2011.
Ham Young-jin, head of Big Data Lab, said, "The overall slump in the apartment market does not seem easy to recover quickly next year," adding, "The main cause of this year's slump is likely to be deeper than resolved next year."