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[경제]’Cheongongseong’ Gangnam also ‘tumbles’ by hundreds of millions… Seoul house price decline in earnest?

Samseong-dong Hillstate Complex 1, 84 m², plunged 700 million won
Jamsil Recents exclusive 84 m² recently plunged 400 million won
Garak-dong Heliocity dedicated 84 m², decreased by 200 million won
Experts say interest rates are rising and the economy is down due to economic instability


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[앵커]

The price of apartments in Gangnam, Seoul, which was like a castle town, leading to a surge in real estate prices, is dropping by hundreds of millions of won.

Some predict that the decline in house prices will be prolonged due to interest rate hikes and economic instability.

Reporter Lee Dong-woo reported.

[기자]

A large apartment complex in Samseong-dong, Gangnam-gu, Seoul.

A dedicated 84 m² was recently traded for KRW 2.01 billion.

Compared to the 2.7 billion won at the end of April, it has plummeted by nearly 700 million won in just one month.

[삼성동 부동산 중개업소 : 이것은 실거래가를 들어가 보면 직거래라고 나와 있어요. 이것은 90% 이상 증여라고 보시면 됩니다. 시장 상황은 지금 안 좋습니다. 지금 현재 매수자들은 매수를 안 하고 있어요.]

A flat-type apartment in Jamsil-dong, Songpa-gu, also traded at 2.25 billion won last month, down 400 million won from the highest price a month ago.

A large apartment complex in Garak-dong, Songpa-gu was sold for 2.15 billion won, down 200 million won from last month.

[가락동 부동산 중개업소 : 가격도 가격이지만 2억이 아니라 그 이상 내린다고 해도 누가 사나요? 23억이든 24억이든, 그랬던 것이 21억이든 22억으로 내려왔다고 쳐도 대출 하나도 안 주는데 현금으로 20억 이상 주고 살 수 있는 사람이 몇 명이나 있습니까?]

House prices are falling all over Seoul, with major apartments in Gangdong, Dongjak, Mapo, Yangcheon, and Gwanak-gu also dropping from 500 million won to 200 million won.

Experts analyze that the decline has begun as the perception that house prices have peaked due to interest rate hikes and economic instability spread.

[김규정 / 한국투자증권 자산승계연구소장 : 연초 예상보다 금리가 가파르게 오르면서 매수 관망세가 심화하는 가운데 다주택자 매물 출시로 매물 누적량이 늘어나고 있습니다. 거래가 부진하면서 서울 외곽뿐 아니라 도심에서도 약세를 보이는 지역이 늘어나는가 하면….]

In particular, tax-saving properties are pouring in in most areas of Seoul due to the heavy and temporary exclusion of capital gains tax for multi-family owners, fueling the decline in house prices.

Experts predict that the decline in house prices can be prolonged in a situation where commercial banks’ mortgage interest rates are expected to exceed 6% and reach 7-8%.

This is YTN Lee Dong-woo.

YTN Lee Dong-woo (dwlee@ytn.co.kr)

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