The Soaring High-Priced Apartment Auction Fever... 6·27 Regulation Calmed It [Auction Ttukttak]

[Financial News] #. Seoul Songpa-gu Jamsil-dong 'Jamsil Woosung 4th' exclusive 96㎡ was auctioned at the court on the 14th for 2.13 billion won. The asking price of this complex, which is undergoing reconstruction, is 2.7 billion to 2.75 billion won.

According to the industry on the 23rd, after the '6·27 Loan Regulation', the court auction winning bid rate for Seoul apartments is falling and the number of bidders is also decreasing. Previously, in June, the winning bid rate recorded the highest in three years.
A total of 15 people participated in the bidding for Jamsil Woosung 4th. The winning bid rate was relatively high at 126%, but it was about 600 million won lower than the recent asking price. On the same day, 'Munjeong Hyundai' in Munjeong-dong, Songpa-gu, exclusive 84㎡, found a new owner for 850 million won. 22 people bid, but it was won at a price 100 million won lower than the asking price. The winning bid rate was only 77.76%. Although a rise in value is expected after remodeling, it was not reflected in the winning bid.
This is quite different from the atmosphere in March and April when winning bids exceeding the asking price or highest price appeared in key areas such as Jamsil. For example, at the end of March, 27 people bid for the exclusive 131㎡ of Woosung Apartment (1·2·3 phases) in Jamsil-dong. The winning bid was 3.1764 billion won, more than 300 million won higher than the highest price of the same size at that time, which was 2.875 billion won.
According to Gigi Auction, the winning bid rate and the number of bidders for Seoul apartment auctions have been decreasing simultaneously this month. Last month's winning bid rate was 98.5%, the highest level in three years since June 2022 (110.0%). However, as of this month (1st~22nd), the winning bid rate has fallen by 1.8%p to 96.7%. The average number of bidders also decreased from 8.94 in June to 7.73 this month.
The background of the hot auction market since March is largely due to the lifting and re-designation of the land transaction permit zone. In February, when the land transaction permit was lifted, the asking price soared, and the overheated housing price atmosphere spread to auctions. In March, as the land transaction permit was re-designated, investment demand targeting regulatory gaps turned to auctions.
However, due to the recent 6·27 measures, in the case of the metropolitan area, if you receive a winning bid loan, a limit of 600 million won and a move-in obligation within six months arise. A single homeowner must dispose of their existing home within six months to be eligible for a loan, and those with two or more homes are completely prohibited.
Joo-hyun Lee, a specialist at Gigi Auction, said, "Apartments under 1 billion won are not within the scope of the loan regulation, so there is no significant change in the winning bid rate, but in the case of high-priced apartments that are greatly affected by the loan regulation, investment demand is decreasing."




ming@fnnews.com Min-kyung Jeon Reporter