While interest rates have recently risen and house prices have been falling, the share of Seoul apartment donations has also decreased.
According to the Korea Real Estate Agency, the number of apartment donations in Seoul last August was 245, accounting for 8.9% of the total transaction volume of 2,739.
The total number of cases decreased compared to last July, and the percentage of donations in August is the lowest since 2019.
In April and May, ahead of the imposition of the property tax in Seoul, the share of apartment donations increased to 23.1% and 17.2%, respectively, as multi-family homeowners seeking to reduce the burden of the property tax flocked to the gift.
Since then, in July, the Bank of Korea raised interest rates by 0.5% at once, and the proportion of donations plummeted.
As loan interest rates have risen sharply, it has become burdensome for children and others to receive a house gift, and as house prices are on the decline, it seems that the demand to reduce the tax burden caused by the gift has increased.
Gangnam-gu apartment donation ratio was 13.8% in July, but decreased to 10.7% in August.
Apartments in Seocho-gu also had the lowest percentage of donations this year, recording 4.1% in August.
Yeongdeungpo-gu did not have a single gift in August, and Dongjak-gu recorded the lowest of the year at 2.1%.
On the other hand, it has been found that gift giving has increased in regions where house prices have recently declined relatively significantly and actual transaction prices have plummeted.
Even though the house was put up for sale in the midst of a severe transaction cliff, it did not sell, so it turned to a gift.
Typically, in the case of apartments in Songpa-gu, Seoul, the share of donations in August was 19.6%, lower than in April (45.0%), but higher than in June (15.4%) and August (4.1%).