"6·27 Effect?" July Seoul Apartment Transactions Decrease by 75%

[Financial News]  After the 6·27 real estate measures, loan regulations were significantly strengthened, leading to an overall contraction in the housing sales market in Seoul, with both transaction volume and sales prices decreasing within a month. On the other hand, the transaction prices of large apartments (over 135㎡) showed a double-digit increase.
According to Dabang on the 7th, the number of apartment sales transactions in Seoul in July this year was 2,973, a 75% decrease to 8,960 from 11,933 in June. Compared to 9,236 in July last year, it fell by 68%.
The number of villa and multi-family sales transactions also decreased from 3,831 in June to 1,914 in July, a decrease of 1,917 (50%) in one month. Compared to 2,749 in July last year, it decreased by more than 30%.
Looking at the transaction volume by area, apartment transactions decreased significantly in all area categories. The transaction volume for exclusive areas △ over 102㎡ to 135㎡ decreased from 1,358 in June this year to 277 in July, a decrease of 1,081 (-80%). It was followed by △ over 60㎡ to 85㎡ (-77%), △ over 135㎡ and under 60㎡ (-72%), △ over 85㎡ to 102㎡ (-69%).
Seoul villas and multi-families also saw a decrease in transactions across all area categories, but the decline was more pronounced in medium and larger areas. Transactions for areas △ over 102㎡ to 135㎡, which have relatively high sales prices and loan burdens, decreased by 80% in one month, showing the largest decline. It was followed by △ over 85㎡ to 102㎡ (-72%), △ over 135㎡ (-68%), △ over 60㎡ to 85㎡ (-51%), △ under 60㎡ (-49%).
However, sales prices showed an upward trend in some area categories. The sales price for Seoul apartments with exclusive areas △ over 135㎡ increased from 3.36429 billion won in June to 3.73262 billion won in July, up by 368.33 million won (11%), and the sales price for areas △ over 85㎡ to 102㎡ increased from 1.77742 billion won to 1.81063 billion won, up by 33.21 million won (2%).
In the case of villas and multi-families, the sales price for areas △ over 85㎡ to 102㎡ last month increased by 17.03 million won (3%) from 636.47 million won in June to 653.50 million won, making it the only area type among villa and multi-family sales to record an increase.
A Dabang representative said, "As the high-intensity loan regulations were implemented at the end of June, the purchasing sentiment of real demanders has significantly weakened, and it seems that the wait-and-see attitude will continue for the time being."



going@fnnews.com Choi Ga-young Reporter