Last month, Jeonse transaction volume in the Gyeonggi region ‘fell’ … Trading transaction ‘the lowest in history’

Kim (38), who lives in Suwon, gave up trying to find a house to rent and is looking for a house with monthly rent. This is because the interest rate on Jeonse’s loan, which was only around 4% per annum last year, has risen to close to 7% following the increase in the base rate and the increase in the market interest rate. When I took a loan of 100 million won over a two year loan period, the monthly interest alone was 1.16 million won. Kim said, “I’m looking for a house with monthly rent rather than paying high interest and taking exorbitant loans.”

As a result of a real estate transaction cliff caused by an interest rate hike, jeonse apartment transactions in Gyeonggi-do are plummeting.

According to the Gyeonggi Real Estate Portal operated by Gyeonggi Province on the 3rd, the number of tentative apartment jeonse transactions in Gyeonggi Province last month was 1045, about 4,000 less than in August (14,002) the previous month.

The number of jeonse apartment transactions in Gyeonggi-do, which reached 16,114 in January this year, rose to 17,394 in April, but started to decline after that, and recorded the biggest drop this year in September.

Looking at the status of real estate transactions by city and county, in the case of Suwon, where 1,174 flat jeonse transactions were made in August, the number dropped to 903 in September, falling below 1,000.

In the case of Seongnam City, unlike the first half of the year, when it hosted more than 1,000 units, 763 apartment jeonse transactions took place in September, and the number of transactions decreased significantly. Hwaseong City and Goyang City, which had attracted attention as new towns, also broke the 1,000 chartered transaction volume, recording 800 and 937, respectively, in September.

On the other hand, the number of monthly rental transactions for apartments in Gyeonggi during the period was 9096, which is the average level this year. In particular, in Hwaseong-si, where the number of jeonse transactions dropped significantly, the number of monthly apartment rental transactions has more than doubled from 836 in August to 1,722 last month.

As the real estate transaction cliff intensified, the number of apartment sales in the Gyeonggi region in September also recorded an all-time low.

In September this year, the number of apartment sales in the province (provisionally) was 1,481, the lowest ever since Gyeonggi-do published related statistics in 2006.

By city and county, the number of apartment sales in Suwon last month was 96, half the level of the previous month (184), and in Seongnam, apartment sales totaled only 17 in September.

Yongin-si and Siheung-si also fell sharply from 170 and 186 to 86 and 82, respectively, and Goyang-si also saw their apartment sales cut in half from 166 to 88.

This trend in the real estate market is analyzed to be due to the fact that expectations for the revival of the real estate market, which were intensified by the presidential election, and the bubble has receded due to the implementation of the government’s lukewarm real estate policy, and the burden of the base rate rise.

In fact, since the Bank of Korea raised the base rate by 0.25 percentage points in April this year for the first time this year, the Bank of Korea has continued to raise interest rates at every monetary policy meeting.

An official from Real Estate R114, a real estate research company, said, “The interest rate between Korea and the US reversed as the US Federal Reserve cut the base rate by 0.75 percentage points three times in a row since June. As the possibility of point gains increase, the buying sentiment weakens further.”

[ 경기신문 = 이지민 기자 ]

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