“High Interest Rates and Loan Regulations Amidst Impeachment Situation… Market Contraction”,
News1 ⓒ News1 Min Kyung-seok Reporter,
,
, ‘(Seoul=News1) Hwang Bo-jun-yeop Reporter = With strong loan regulations and increasing uncertainties such as impeachment, the nationwide apartment occupancy outlook index this month recorded its lowest figure in two years.’,
,
, ‘The Housing Industry Research Institute announced on the 14th that the nationwide apartment occupancy outlook index for January was surveyed to have fallen by 20.2 points (88.6→68.4) compared to December last year, recording a figure of 68.4p. This is the lowest in two years.’,
,
, ‘By region, the metropolitan area fell by 18.6 points (90.6→72.0), major cities by 24.1 points (90.2→66.1), and provincial areas by 18.0 points (86.6→68.6), all showing significant declines.’,
,
, ‘The occupancy outlook index is an indicator that predicts whether people who have purchased apartments can pay the remaining balance and move in. A figure below 100 suggests more negative than positive outlooks on occupancy conditions, while above 100 indicates more positive outlooks.’,
,
, ‘In the metropolitan area, Seoul (100.0→88.0, 12.0p↓), Incheon (86.2→64.2, 22.0p↓), and Gyeonggi (85.7→63.8, 21.9p↓) all showed declines.’,
,
, ‘All five major cities also saw significant drops: △Ulsan (92.8→61.1, 31.7p↓) △Daegu (95.6→68.0, 27.6p↓) △Daejeon (88.2→61.1, 27.1p↓) △Gwangju (80.0→58.8, 21.2p↓) △Busan (85.0→69.5, 15.5p↓).’,
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, ‘For provincial areas, declines were seen in the following order: △Jeonnam (91.6→37.5, 54.1p↓) △Gyeongbuk (100.0→60.0, 40.0p↓) △Gyeongnam (100→70.5, 29.5p↓) △Sejong (100→78.5, 21.5p↓) △Jeonbuk (90.9→71.4, 19.5p↓) △Gangwon (87.5→69.2, 18.3p↓).’,
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, ‘Conversely, Chungbuk (75.0→81.8) rose by 6.8 points, Chungnam (73.3→80.0) by 6.7 points, and Jeju (75.0→78.9) showed a 3.9-point increase.’,
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, ‘The Housing Industry Research Institute noted, “Given the persistent high interest rates, strict loan regulations, and the ongoing impeachment situation, a precise analysis and timely policies for the rapidly contracting housing market are deemed necessary.”‘,
, ‘Last month’s occupancy rate was 69.7%, a slight increase of 0.7%p compared to November.’,
,
, ‘By region, the metropolitan area slightly fell by 2.4%p from 82.3% to 79.9%, the five major cities by 1.8%p from 69.6% to 67.8%, while provincial areas increased by 3.6%p from 63.6% to 67.2%.’,
,
, ‘In the metropolitan area, Seoul (82.5%→81.4%) and Incheon/Gyeonggi (82.3%→79.1%) showed slight decreases in occupancy rates.’,
,
, ‘Among non-metropolitan areas, the Gangwon area saw a significant increase (60.0%→80.0%). However, the Jeju area recorded a significant drop (75.7%→63.7%) due to the increase in unsold units in areas outside the city center.’,
,
, ‘The reasons for non-occupancy were reported as follows: delay in securing final payment loans (34.0%), delay in selling existing homes (32.1%), tenant unavailability (17.0%), and delays in selling purchase rights (9.4%).’,
,
, ‘There was a decrease of 3.9%p in securing final payment loans and a 2.0%p decrease in tenant availability. In contrast, delays in selling existing homes increased by 1.1%p, and delays in selling purchase rights by 4.2%p.’,
,
, ‘The Housing Industry Research Institute stated, “With expanding uncertainties such as stringent loan regulations, economic recession concerns, and political instability freezing purchasing sentiment, a significant reduction in transaction volume is expected. Until the impeachment situation is resolved, the transaction deadlock is likely to continue.”‘