"○○ was the strongest".. Commonality of Seoul apartment record prices in August

[Financial News] Amid the continued transaction cliff due to the 6·27 loan regulation impact, the 'national standard size' 59㎡ is showing the strongest performance in the Seoul apartment market in August. With record prices continuously reported in key complexes such as Gangnam, Mayongseong, and Mokdong, the phenomenon of small-sized apartments being favored is expected to intensify for the time being.
According to the Ministry of Land, Infrastructure and Transport's real transaction disclosure system on the 24th, a total of 6,295 Seoul apartment sales were reported from June 28 to the 23rd of this month. By area, transactions of 60㎡ or less accounted for 2,772 cases, making up 44% of the total, the highest proportion. The 60~80㎡ range followed with 2,570 cases (40.8%), and transactions of 85㎡ or more accounted for only 953 cases (15.1%). This is interpreted as a result of the market being reorganized around real demanders after the loan regulations, with transactions leaning towards smaller sizes due to relatively less financial burden.
As demand concentrated on small sizes, record prices followed. The 59㎡ exclusive area of Seongdong-gu Seoul Forest I-Park River Foret was traded at 2.85 billion won on the 14th, setting a new record. The 84㎡ exclusive area of this complex was traded at 3.9 billion won, the highest price, just before the loan regulation on June 23, but transactions were cut off in July and August. On July 11, a sale was concluded at 3.49 billion won, 410 million won lower than the previous highest price, but was immediately canceled.
Also, the 59㎡ exclusive area of Mapo-gu Mapo Raemian Prugio 4 Complex was traded at 2.05 billion won on the 9th of this month. This complex also recorded the highest price at the same price on June 21, but on July 18, the same size was traded at 1.36 billion won, a sharp drop of 33.6% compared to the previous price, but recovered its market price within a month.
Songpa-gu Garak Ssangyong 2nd Complex (59㎡·1.32 billion won), Yangcheon-gu Mokdong Jindo 1st Complex (59㎡·1.25 billion won) also broke record prices this month. Seongdong-gu Geukdong Mirage (59㎡·1.058 billion won), Yangcheon-gu Mokdong New Town 12th Complex (53㎡·1.82 billion won) also joined the record price parade.
This trend is not limited to some areas, according to the industry's perspective. As the purchase barrier for high-priced and medium-large sizes increased due to loan regulations, demand is shifting to 59㎡, which has relatively less financial burden and high preference for actual residence, in each district.
In addition, the learning effect of buyers believing that "even if it falls, it will eventually rise again" and the uncertainty of new supply are adding to this, with the scarcity of small sizes acting as a factor that raises the price resistance line. An industry expert said, "59㎡ is the most popular size in the subscription market, and the lack of new supply due to the application of the pre-sale price ceiling system is stimulating buying demand."
en1302@fnnews.com Jang In-seo Reporter