real estate
Entered 2024.04.27 09:32 Modified 2024.04.27 11:03
Seoul’s transaction volume is more than 4,000
Actively changing hands in Songpa, Seongdong, Mapo
A panoramic view of ‘Helio City’ in Garak-dong, Songpa-gu, Seoul. /Photo = Hankyung DB Seoul apartment transaction volume exceeded 4,000 per month for the first time in 2 years and 7 months. The analysis is that the ‘transfer demand’ for moving to popular residential areas is increasing, and the change of active hands in preferred areas such as Songpa, Seongdong, and Mapo has led to an increase in transaction volume.
According to the Seoul Real Estate Information Plaza on the 28th, as of the 26th, the volume of apartment transactions in Seoul in March was 4,039. The number of monthly transactions exceeded 4,000 for the first time since August 2021 (4,065). Last February alone, there were only 2,511 cases, but the number increased by around 1,500 in just one month. Transactions have increased in the past month across all 25 districts in Seoul. Songpa-gu had the biggest increase, increasing by 128 cases from 171 last February to 299 last month. Double-digit transaction volumes were recorded at major complexes in Songpa-gu, including Helio City in Garak-dong (39 cases), Parkrio in Sincheon-dong (22 cases), Trizium in Jamsil-dong (16 cases), and Ricenz and Jamsil Ls (14 cases each).
Prices also tend to rise. Helio City’s exclusive area of 84㎡ changed hands last month for 2.15 billion won (11th floor). This month too, three transactions were made in the won range of 2.1 billion. In January this year, it traded in the 1.9 billion to 2 billion gain range. The basic ransom price rises to more than 2.1 billion won. The price of 84㎡ alone for Jamsil Els has also jumped from 170 million won, from 2.23 billion won (20th floor) in January to 2.4 billion won (23rd floor) last month.
Gangseo-gu (122 → 233), Seongdong-gu (112 → 219), and Mapo-gu (104 → 209) also saw an increase of more than 100 transactions last month compared to February. In Gangseo-gu, Gayang-dong Gangbyeon Complex 3 and Gayang 6 Complex attracted attention with 10 transactions each. As the Gayang area has been added to the list of subjects subject to the ‘Special Law on the Aging of Planned Cities’ introduced by the government in January, expectations for reconstruction have increased. In Seongdong-gu, apartments in Oksu-dong, Haengdang-dong, and Geumho-dong were popular. Oksu-dong e-Pyeonhansesang Oksu Park Hills (16 cases), Haengdang-dong Haengdang Daelim (10 cases), Geumho-dong e-Pyeonhansesang Geumho Park Hills (10 cases), Haengdang-dong Seoul Forest River View Xi (10 cases) , etc. had more than 10 cases each in March. In Mapo-gu, there were a high number of local high-priced apartment transactions, including Mapo Raemian Prugio in Ahyeon-dong (13 cases), Mapo Grand Xi in Daeheung-dong (12 cases), and Mapo Prestige Xi in Yeomni-dong ( 10 cases). In the case of Mapo Prestige Xi, an exclusive 84㎡ unit was sold for 1.97 billion won last month and is about to rejoin the ‘2 billion’ club.
Soo-min Yoon, a real estate expert at NH Nonghyup Bank, said, “Recent consumers who were pushing for change took advantage of the recent slight drop in mortgage interest rates,” adding, “Instead of demand for investment, there was a lot of movement in the form of moving regions or expanding square footage.” he explained.
Reporter Inhyuk Lee
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