Will Seoul's Apartment Rise 'Ttuk'... "Stable House Prices" Goals Be Achieved?

"Buyers take a wait-and-see stance due to stricter loan regulations"

88,000 apartment sales in Seoul...5% more than a month ago

The government announced its plan to lift the green belt...The speed of the business is the key.

[Anchor]
Apartment prices in Seoul have risen for 33 consecutive weeks, but the rise has been steadily decreasing for three weeks.

Attention is focusing on how effective the government's measures to stabilize apartment prices in Seoul will be by lifting the green belt.

This is reporter Choi Doo-hee.

[Reporter]
a large apartment complex in Jongno-gu, Seoul

The exclusive area of 84㎡ was traded at 2.28 billion won on the 5th, up 150 million won from a month ago.

However, purchase inquiries have decreased significantly due to the government's loan regulations that began in September.

[Yoo Hee-jung / Real estate agent near Jongno-gu, Seoul: From the end of July to October after the holiday season, (the transaction) is quiet. (We expect that the transaction will be made at an appropriate price, as the transaction is gradually reviving, mainly by end-users.)

In fact, the trading volume of apartments in Seoul, which was close to 9,000 in July, is also on the decline.As the volume of

decreases, the price increase is also slowing.

Apartment prices in Seoul have risen for 33 consecutive weeks, but the rise has been steadily decreasing for three weeks.

In response, the Korea Real Estate Agency analyzed that sales are piled up as buyers take a wait-and-see stance due to stricter loan regulations.Sales of apartments in Seoul have accumulated about 5% more than a month ago due to fewer transactions of



The key is how long the government will be able to continue this loan regulation policy.

[Yoon Soo-min / NH Nonghyup Bank Real Estate Commissioner: The pace of tightening lending regulations continues, and if it goes on for a long time, there is a possibility that even apartment prices in Seoul could fall. If loan regulations are eased again, apartment prices in Seoul, which had been pressed, will expand the rise again....]

In the midst of this, the government recently announced its plan to lift the green belt in some areas of Seoul, and has also started to resolve concerns about a shortage of housing supply.

However, as it takes a long time to actually move in, how quickly the government will be able to push ahead with the project is expected to determine the success or failure of stabilizing housing prices.

I'm Choi Doohee of YTN.

Reporter for shooting
: Lee Dong-gyu
Design: Baek Seungmin