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As prices rise so steeply and interest rates rise to catch them, the real estate market is freezing because of the interest burden.
In Seoul, there was also a house that was sold at a price of 400 million won lower than a month ago.
The real estate market was covered by reporter Jeon Yeon-nam.
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It is a large apartment complex with over 5,000 households in Jamsil, Seoul.
An 84-square-meter apartment in this complex was sold for 2.25 billion won last month, but it was sold for 400 million won in one month.
[Authorized Broker in Songpa-gu, Seoul: Because they are down (lower prices), things are coming out, but transactions are not happening.
200 million has dropped.]
This most expensive apartment in Dongjak-gu, Seoul also sold 200 million less than a house with the same number of floors and a similar area sold in December last year.
As a result of the Korea Real Estate Agency, apartment prices in Seoul fell by 0.01% for the second week, and in particular, Gangnam-gu also stopped the upward trend for the first time in three months.
As the transfer tax for multi-family homes was lifted for one year, more and more people are selling their houses, but the number of people who want to buy has stopped.
Among them, the urgent sale at the lowest price is sold, resulting in the effect of house prices falling by hundreds of millions of dollars.
[Ham Young-jin/Director of Big Data Research Center: When I was on probation, I was about to sell my stuff, but recently, the vitality of the trading market has decreased and the demand for housing purchases considering the high interest burden is on the low side.]
The supply-demand index, which shows the supply and demand for apartments in Seoul, also continued to fall for the fifth week, supporting this phenomenon with numbers.
As interest rates continue to rise, the transaction cliff continues, and conversely, those who have to sell their homes will struggle for a while.
(Video coverage: Jeon Gyeong-bae, video editing: Lee Seung-yeol)