National real estate transactions in August decreased by over 10% compared to the previous month due to the aftermath of loan regulations.

Trade volume down 10.6%·Trade amount down 17.3%
Decrease in trade volume for all property types except villa… Seoul apartment records 30% decrease,
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[Yonhap News photo],
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, ‘(Seoul=Yonhap News) Reporter Kim Hee-sun = The nationwide real estate transaction market, which hit its peak for the year in July by surpassing 100,000 transactions, recorded a double-digit decrease in both transaction volume and amount in August.’,
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, ‘ In particular, the transaction volume was the third lowest figure of the year, following February and January.’,
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, ” According to the ‘August Nationwide Real Estate Transaction Trends Report’ released by the commercial real estate specialist Real Estate Planet on the 15th, a total of 93,174 real estate transactions took place nationwide in August, a 10.6% decrease compared to July. “,
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, ‘ From a monthly perspective, this is the third lowest level of the year, following February (78,215 transactions) and January (81,594 transactions). ‘,
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, ‘ The total transaction amount in August was 36.3 trillion 463 billion KRW, a 17.3% decrease from the previous month. ‘,
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, ‘ However, compared to the same month last year (87,674 transactions, 29.845 trillion KRW), both transaction volume and amount increased by 3% and 25%, respectively.’,
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Nationwide real estate transaction trend
[Provided by Real Estate Planet. Redistribution and DB prohibited],
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, ‘By property type, except for a 0.2% increase in transactions of row houses and multi-family houses (villas) compared to the previous month, all other types of transactions decreased.’,
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, ‘ Transactions of factories and warehouses (general) saw the largest decline at 22.4%, followed by factory and warehouse buildings (complex) at 17.2%, commercial buildings and offices at 12.4%, officetels at 12.3%, apartments at 11.5%, land at 11.4%, commercial and office buildings at 9%, and single-family and multi-family houses at 6.2% each.’,
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, ‘ In terms of transaction amount, commercial buildings and offices increased by 25.2% from July, but all other types decreased, with factory and warehouse buildings (complex) showing a 70.7% decrease.’,
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, ‘ Looking at apartments separately, the total national transaction volume was 42,374 units, and the transaction amount was 21.436 trillion KRW, decreasing by 11.5% and 20.2%, respectively, compared to the previous month.’,
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, ‘ In particular, the decline was more pronounced in the metropolitan area.’,
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, ‘ In Seoul, the transaction volume and amount were 5,982 units and 10.639 trillion KRW, respectively, representing a 30.9% and 32.9% decrease compared to the previous month, marking the highest decrease rate.’,
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, ‘ Gyeonggi Province (14.8%↓, 12,746 units), Incheon (7%↓, 2,888 units), Gyeongnam Province (6.6%↓, 2,511 units), and Busan (6.6%↓, 2,469 units) followed suit.’,
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, ‘ It was confirmed that apartment transactions and transaction amounts in the Gwangju and Gyeongnam areas decreased compared to the previous month as well as the same month of the previous year.’,
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August nationwide apartment transaction volume and transaction amount
[Provided by Real Estate Planet. Redistribution and DB prohibited],
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, ‘Real Estate Planet analyzed that various loan regulations such as the rise in interest rates by commercial banks since July, the tightening of regulations on lending for key money loans, and the contraction of the commercial real estate lending market due to the increase in delinquency rates of non-residential mortgage loans had an impact on the decrease in real estate transactions.’,
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, ‘ Real Estate Planet’s CEO Jeong Soo-min said, “Contrary to the upward trend shown by the nationwide real estate market in July, August showed a clear downward trend” and said, “The real estate market this year has been drawing an upward graph with fluctuations, but unless there are significant changes in loan regulations, there is a possibility that the difficulties in the real estate market will continue for the time being.”‘,
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