**Highest in 1 Year and 1 Month… Seoul Still Has Many Rising Transactions**
Nationwide transaction volume decreases for 3 consecutive months… January transactions down 40% compared to the same month last year
(Seoul=Yonhap News) Reporter Kwon Hye-jin = The proportion of declining transactions in nationwide apartment sales has continued to increase this year, reaching its highest level in over a year.
According to an analysis of the Ministry of Land, Infrastructure and Transport’s actual transaction data by Zigbang on the 10th, 44.9% of apartment sales nationwide last month were concluded at prices lower than previous deals, marking them as “declining transactions.”
This is the highest figure since December 2023 (47.3%).
The proportion of declining transactions began to increase in August last year, surpassing the proportion of rising transactions (42.6%) by November at 43.7%.
By region, in the metropolitan area, the proportion of declining transactions (43.4%) surpassed rising transactions in December last year, recording 43.6% this January.
However, in Seoul, rising transactions still led over declining ones, with proportions at 44.7% and 36.9%, respectively.
Yet, districts such as Geumcheon-gu (66.7% as of January) and Nowon-gu (55.7%) saw declining transactions exceed half.
In the Gyeonggi region, areas like Sujeong-gu, Seongnam-si (61.5%), Icheon-si (61.1%), Sangnok-gu, Ansan-si (61.0%), Dongducheon-si (60.0%), Uiwang-si (55.9%), Cheoin-gu, Yongin-si (51.8%), Uijeongbu-si (50.8%), Paju-si (50.4%), and Ilsandong-gu, Goyang-si (50.0%) also had high proportions of declining transactions.
In Incheon, Jung-gu (52.8%) and Namdong-gu (51.6%) saw over half of transactions decline, while Yeonsu-gu was close at 49.3%.
In the provinces, the proportion of declining transactions started to surpass rising transactions in November last year at 44.8%.
As of January this year, the proportion of declining transactions was 45.6%, higher than rising transactions (42.1%).
By region, Daejeon had the highest proportion of declining transactions at 49.2%, followed by Jeju at 49.0%, Busan at 47.1%, Daegu at 46.3%, North Chungcheong at 46.3%, South Chungcheong at 46.1%, North Gyeongsang at 46.0%, Gangwon at 45.9%, and South Gyeongsang at 45.2%.
Meanwhile, nationwide apartment transaction volumes have been on a decline for three consecutive months since November last year.
The number of transactions in January this year was 18,719, which was over 40% less than in January last year (31,561 transactions), and it decreased by 61.5% compared to July last year (48,676 transactions), which recorded the highest monthly transactions.
Zigbang noted that even considering the 30-day reporting period for transactions, this January’s transaction volume is relatively low.
Zigbang stated, “The economic downturn, political uncertainties, and delays in interest rate cuts are expected to continue the cautious attitude of buyers, making it difficult for the market to recover quickly,” and predicted that this trend is likely to persist for some time.