An apartment penthouse in Haeundae, Busan was traded for a price that immediately rose by 4.4 billion won compared to the previous transaction. Given that the transaction was made at an excessively high price and that the transaction was direct without going through an intermediary, the Ministry of Land, Infrastructure and Transport suspected market disturbance and initiated an investigation.
According to the real transaction disclosure system of the Ministry of Land, Infrastructure and Transport on the 16th, on the 5th, a unique area of 219.945㎡ (about 66.5 pyeong) on the 46th floor of ‘Haeundae I- Roedd Park’ in U-dong, Haeundae-gu , Busan is traded directly for 7 billion won. Compared to the transaction price just before July 2016 (2.6 billion and 4.2 million won), the reported price increased by 4.4 billion won.
However, 185.082㎡ (about 56 pyeong) on the same floor in the same building was traded at 3.7 billion won on the 18th of last month. The size is small, about 35 square meters, but it corresponds to the same penthouse. Even considering the difference in area, the reported price of 7 billion won is almost twice as high.
According to a nearby brokerage, the house sold for 3.7 billion won is preferred because it has a better view. The 3.7 billion won sale has no obstacles blocking the view, so the Gwangan Bridge can be seen unhindered, but the 7 billion won sale is said to have high-rise apartments in front of it that block the view’ the sea
According to the certified copy of the register, the apartment sold for 7 billion won was owned by a real estate trust company and then sold. The transfer of ownership has not yet been completed, so the buyer is unknown.
The Ministry of Land, Infrastructure and Transport, which is in the process of cracking down on genuine transactions and abnormal direct transactions, announced that the transaction was also included in the investigation. An official from the Ministry of Land, Transport and Maritime Affairs said, “All cases where direct transactions were sold at too high or low prices compared to the previous period are under investigation.” He continued, “It will take some time before the announcement as we have to receive and verify the explanatory data of the parties.”
On the 12th, Minister of Land, Infrastructure and Transport Won Hee-ryong held a ‘meeting on countermeasures to eliminate housing price action forces’ at the Seoul Gangnam branch of the Korea Real Estate Agency and discussed measures to prevent unrest in the real estate market. According to the Korea Real Estate Agency, the release rate of the reported price after 6 months of contract increased from 1.7% in the first quarter of 2021 to 11.4% in the first quarter of last year and to 44.3% in January and February. This year.
Minister Won criticized ‘floating the actual transaction price’ as “an act of market destruction” and “an act like a poisonous gas” and said, “If it is possible to discover that the house price manipulators are connected to each other , they will do that. be punished at the level of the Act on the Serious Punishment of Specific Economic Crimes, not prison for less than three years. It has to be done,” he said.
