Even after June 1, the starting date of the taxation of possession tax (comprehensive real estate tax, property tax), the number of apartments for sale nationwide has been steadily increasing.
According to the real estate big data company Asil (apartment room transaction price) today (the 5th), as of this day, apartment sales in 17 cities and provinces nationwide increased all at once compared to 5 days ago.
By province, Gwangju (6.2%) had the largest increase in properties, followed by Jeju (5.2%), Gyeongnam (3.3%), Chungnam (3.1%), and Daejeon, Gyeongbuk, and Busan (2.7% each).
Seoul (2.4%) and Incheon and Gyeonggi (2.5% each), the metropolitan areas, also showed a 2% increase in sales in five days.
This is interpreted as the fact that the multi-residential capital gains tax and the one-year temporary exclusion, which took effect on the 10th of last month, still have a strong effect on the market.
Multi-family homeowners who tried to sell their apartments before June 1 to reduce both capital and transfer taxes, but failed to dispose of them, also do not seem to pick up the sale.
In the Seoul metropolitan area, sales increased by 11.3% in Seoul, 9.8% in Gyeonggi and 11.4% in Incheon, respectively, since the 10th of last month, when the middle and one-year temporary exclusion measures were implemented.
This is because disposing of the apartment before the tax base date was unsuccessful, but there is still a transfer tax period and grace period to dispose of the house at the basic tax rate (6-45%).
Since the 10th of last month, Gangseo-gu (14.3%), Guro-gu (13.8%), Jung-gu (13.7%), Yongsan-Nowon-gu (13.6%), Songpa-gu (13.5%), Geumcheon-gu (13.3%), Mapo-gu (13.1%) ), Dongdaemun-gu (12.5%), and Gwanak-gu (12.0%) showed the largest increase in sales.
In addition, the Seoul Sales and Supply Index of the Korea Real Estate Agency showed a downward trend for four consecutive weeks (91.1→91.0→90.8→90.6→90.2) since the second week of May, when the multi-home transfer tax was implemented.
If the supply and demand index is lower than the baseline (100), it means that there are more people in the housing market wanting to sell than people wanting to buy.
As the number of tax-saving properties for multi-homeowners continues to increase, the government has begun to adjust the pace of deregulation, and as the long-awaited purchase continues due to strong loan regulations and pressure to raise interest rates, more people are selling houses than buying them in the market.
Amid the unprecedented 'trading cliff' in the market, the proportion of buying only low-priced apartments with a sale price of 600 million won or less is increasing.
If you look at the real transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, of the 1,61 Seoul apartment sales last month registered up to the 2nd, 452 cases were worth 600 million won or less.
Although there is still 30 days left to report registration, the proportion (42.6%) of apartment sales in Seoul last month of less than 600 million won reached a monthly high this year.
The main cause of this phenomenon is the super-strong loan regulation, led by the mortgage recognition ratio (LTV) and the total debt-to-income ratio (DSR).
In Seoul, an overheated speculation district, mortgage loans are not issued for houses with a market value of more than 1.5 billion won.
In addition, from this year, individual DSR regulations are applied at 40% for 1st financial sector and 50% for 2nd financial sector to borrowers with a total loan amount of more than 200 million won. It will be expanded.
In this situation, 600 million won for a house is considered a loan regulation line in the financial sector.
This is because the Bogeumjari Loan, which is classified as a representative housing mortgage loan for the common people, can only be received for houses of 600 million won or less.