Seoul real estate moving ‘big hand’ returns in his 30s… Most purchases in 20 months

July 5, 2023 0 Comments

‘Big hands’ in their 30s have returned to the Seoul real estate market. People in their 30s bought the most apartments in 20 months from May this year to September 2021. As various deregulations, transfers to the launch of special bogeumjari loans, and demand for home ownership revive, house prices in Seoul are also on the rise.

According to the Korea Real Estate Agency on the 5th, it was counted that 1286 out of a total of 3711 apartment transactions in Seoul in May were bought by people in their 30s. After 1505 cases in September 2021, it broke the highest in 20 months.

The number of apartment purchases in Seoul by people in their 30s shrank to 171 in November last year in the aftermath of high interest rates from the US. However안전놀이터, as the real estate market gradually recovered recently, the number exceeded 1,000 in March of this year and reached 1,200 in May.

Unlike the national apartment market, which is dominated by people in their 40s, in Seoul, people in their 30s are called the big players in determining apartment prices. This is because they usually have the largest amount of purchases and are more sensitive to the real estate market atmosphere than any other generation. The proportion of purchases by people in their 30s, which had been around 30% during the real estate boom, fell to the early 20s in the second half of last year when house prices declined significantly, and recently rose to the mid-30s. It recorded 35.2% in April and 34.7% in May. Seoul apartment prices are continuing their upward trend by turning upward in 15 months since February last year in May, in line with the rapid increase in purchases by those in their 30s.The recent increase in purchases by those in their 30s is institutionally interpreted as a result of the stabilization of interest rates following a series of freezes on the base rate and the easing of various loan and tax regulations following the 1st and 3rd measures. Currently, all areas except Gangnam-gu, Seocho-gu, Songpa-gu, and Yongsan-gu in Seoul are excluded from the regulated area, lowering the threshold for housing purchases. The launch of the special Bogeumjari Loan also led to the purchase of mid- to low-priced apartments in their 30s. The special bogeumjari loan is a loan of up to 500 million won at a low fixed rate regardless of income level when purchasing a house of less than 900 million won. In addition, psychological factors such as the growing desire to own a house due to the spread of charter fraud, the spread of the perception of the bottom of the house price, and the increased demand to change to a higher-end property are also attracting purchasers in their 30s.Yeo Kyung-hee, senior researcher at Real Estate 

R114 , said, “As the 30s lack funds compared to the middle-aged, they are a generation that reacts more sensitively to the economy considering the ability to borrow.” seen,” he explained.

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