Single-home owners also say, “Let’s put my house on the market.” Home prices are rising. Why?

The number of apartments for sale nationwide is piling up. While transaction prices have successfully rebounded, the demand for ‘replacement’ to move to higher-end areas or larger areas is interpreted to be the result of an increase in the number of houses being put up for sale.

According to real estate information provider ‘Asil (actual apartment price)’ on the 7th, the number of apartments for sale in Seoul as of this day was 73,117, a 10.95% increase from a month ago (65,898). The number of listings for sale increased by more than 7,000 in just one month. Compared to the beginning of this year (50,513 cases), it is a 44.75% increase.

Local listings also increased rapidly. In the past month, the number of properties for sale in Gwangju increased by 16.3%, the largest increase in the country. During the same period, Jeonnam increased by 14.5%, Gyeongnam increased by 13.4%, and Jeju increased by 13.3%, showing a higher rate of increase in listings than Seoul.

In particular, the number of apartments for sale in Seoul exceeded 70,000 at the end of last month, which is the first time since the count was compiled in September 2020. The place in Seoul where the number of properties for sale increased the most in the past month was Songpa-gu메이저사이트, where the number of properties for sale increased by 22.9%. Following this, Nowon-gu increased by 17.4%, Dobong-gu increased by 16.3%, and Gangseo-gu increased by 14.9%.

On the other hand, during the same period, Gangnam-gu listings only increased by 0.7%, and Jung-gu (3.1% increase) and Seocho-gu (5.5% increase) also had relatively low growth rates.

Although apartment sales prices have turned upward mainly in Seoul and the metropolitan area, the reason for the increase in listings appears to be because there is a lot of ‘replacement’ demand centered on single homeowners. Recently, the rise in real estate prices in upper-class areas has been steeper than in other regions, with a series of reported prices in the Gangnam area. In order for a single homeowner to move to a higher-end apartment, he or she must first sell the home he or she lives in.

An industry official said, “The real estate sales market in Seoul and the metropolitan area has succeeded in an upward transition centered on upper-class areas, so it appears that the number of properties for transfer to move to upper-class areas as soon as possible is piling up.” He added, “If not for this opportunity, the ladder to move to upper-class areas will be cut off.” “There might be a fear that it might happen,” he said.

In the first half of this year, when the real estate market was in a slump, transaction volume revived mainly due to quick sales, but transaction volume decreased as most of the quick sale items were sold out.

According to real estate statistics information from the Korea Real Estate Agency, the nationwide apartment transaction volume was 39,124 in January, the lowest this year. Since then, there has been an increase to 63,909 cases in February, 59,750 cases in March, 58,791 cases in April, 70,317 cases in May, and 71,937 cases in June. However, in July, the number actually decreased to 66,698.

This can be explained by the difference in ‘eye level’ between potential buyers and sellers. Transactions have decreased because buyers who want to buy cheaply and sellers who want to sell expensively cannot reach a price that allows them to conclude a contract.

A representative of a real estate agent in Seongbuk-gu, Seoul said, “As the market price is rising, landlords are putting their houses on the market for an amount that is close to 100 million won higher than the recent actual transaction price based on an exclusive area of ​​84㎡.” “It’s burdensome, and the attitude of waiting until it sells seems to be piling up,” he said.

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