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Last month, apartment sales in Seoul fell below 1,000 for the first time since statistics were compiled.
The deal was cut off because no one wanted to buy a house, but there are also analyzes that it is a signal of a decline in house prices.
Correspondent Han Sang-woo.
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These days, real estate brokerage offices in Seoul are virtually closed.
[Seoul Mok-dong real estate agent: (Did you trade this month?) Zero, I am not in the complex.
None at all.
(Did you do (trading brokerage) in June?) It wasn't there in June, but it was in May.
It's serious.
Now.] The
total number of transactions in Seoul last month was 994, the lowest in June since the statistics began to be compiled in 2006.
Even compared to 2010, when the real estate recession began in earnest due to the financial crisis, it is less than half.
In July, there were only 136 so far, so it is also likely to be an all-time low.
When the house price rises, the number of transactions increases, and when the number of transactions decreases, the house price has fallen.
The number of people selling houses is still there, but fewer people want to buy them, so the number of properties for sale in Seoul has increased by more than 50% in one year.
Seoul house prices have fallen for seven weeks in a row, but the atmosphere on the site is more gloomy.
[Kim Gyu-gyu/Director of Korea Investment & Securities Asset Succession Research Institute: As the state of disruption in trading continues, the downward pressure on prices will increase.
However, if you go to the site, the price adjustment may be larger than the actual indicator...
.]
As a large interest rate hike is expected in the future, the weakness in the real estate market is expected to continue for a while.