Sold out in 5 Gyeonggi districts that have been released from modification… Will the sale be successful?

In a situation where the apartment sales market is in a long-term recession, authorized real estate agencies are concentrated in shopping centers in the metropolitan area. [사진=연합뉴스]

As the autumn sales market opens in earnest, attention is focused on the sales market in the five metropolitan areas that have been released as unregulated areas since the 26th. These regions were relatively free of subscription, loan and resale due to the release of the regulated area.

According to Real Estate Info, a real estate information company on the 3rd, in Anseong, Pyeongtaek, Dongducheon, Yangju, and Paju, which have been released from the adjustment target areas, 11,505 homes are set to sell by the end of the year. By region, Pyeongtaek had the largest with 5792 households, followed by Paju with 3154 households and Anseong with 1989 households. There are 570 homes in Yangju, and no overall sales in Dongducheon this year.


Earlier, the Ministry of Land, Infrastructure and Transport released all provinces except Sejong City as unregulated areas, including these five Gyeonggi regions in the metropolitan area. This is because the recent trade cliff has continued and the range of house price declines continues to widen, and the conditions for raising the regulatory floor have been met.


As the area subject to modification was raised, the threshold for subscription was significantly lowered. In regulated areas, only non-household owners or single house owners can apply for the first priority, but in non-regulated areas (including complexes that have announced their sale after release of regulations), multi-agency homeowners can also apply for first priority. whether they own a house or not.


In addition, if the subscription period of a subscription account is 12 months or more and only the deposits by region and area are satisfied, the first subscription qualification is given. The allowance for mid-term loans will also be raised from 50% of the total pre-sale amount to 60%.


Experts expressed doubt that lowering the subscription threshold in this way would lead to a revival of the subscription market. From the buyer’s point of view, the area where the regulated area is raised means that the downtrend is big.


Kyungin Women’s University professor Seo Jin-hyeong (co-representative of the Fair Trade Forum) said, “As the regulatory field is raised, construction companies are slowly releasing the deferred amount.”


From the perspective of construction companies, it is not easy to reduce the presale price as construction costs are increasing due to the increase in labor costs and raw material prices. The price gap between suppliers and consumers is expected to widen in the future.

Professor Seo said, “Consumers ride horses that run, not horses that move back.”


Instead, there were concerns that raising the regulated area could be bad news for the local real estate market. Song Seung-hyeon, head of the city and the economy, analyzed, “The places where regulations were lifted during the housing price adjustment period can act as a stigma that prices are difficult to bounce back in the future.”


Before the regulation was lifted, the number of unsold homes in Gyeonggi-do rose sharply. According to Gyeonggi Real Estate Portal, the number of unsold homes increased from just 855 in January this year to 3,393 in July. Although it fell slightly in August, there were still 3,180 unsold units. In particular, Yangju, an area where regulations were lifted, had 28.7% (914 households) of unsold units in Gyeonggi-do last August. Anseong came in second with 565 homes, and Dongducheon also had 188 unsold units.


Voices from the field also said that the market atmosphere is still cold in places where the controlled areas have been lifted. A licensed real estate agent in Gyeonggi Province said, “There are still no purchase inquiries.” He predicted, “Lifting the regulations will not have a significant impact on purchases or subscriptions, given the heightened awareness of a high house price.”


On the other hand, there was an analysis that the real estate market in the still area could be slightly different if it was released from the regulated area. In the past, there was a precedent where housing prices rose after some areas in Gyeonggi were released from the adjustment target area.


According to the Korea Real Estate Agency, the apartment sales price index in Goyang and Namyangju, Gyeonggi Province fell by 3.03% and 0.07%, respectively, between January and November 2019, but 11.44 each for a year in 2020 after being raised of the target area adjustment in November 2019. %, an increase of 13.02%.


Kwon Il, head of the Real Estate Information Research Team, said, “It remains to be seen whether the mood of the real estate market will be reversed due to the lifting of the restrictions.


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