The number of buyers who bought a house in Seoul for the first time in their lives reached the highest level in four years and eight months, a report showed.
According to the court registration information square on the 16th, 7,552 buyers applied for the registration of the transfer of ownership by purchasing their first real estate (collective building) in Seoul last month. This is the highest figure in four years and eight months since November 2021 (7886) when the real estate market heated up.
This year, the number of buyers of Seoul's first collective building is increasing. The number increased from 6,554 in January to 7,341 in April. It slowed to 6,479 in May, but it increased 4.7 percent in July following 7210 in June.
By age group, people in their 30s were the most active in buying their own homes. Among the first real estate buyers in Seoul last month, 4,302 people in their 30s accounted for 57% of the total. Those in their 40s, counted as 1401, followed by 18.6 percent.
By region, buying was concentrated in the outskirts of Seoul. Last month, Eunpyeong-gu had 844 first-time real estate buyers, the highest among 25 autonomous districts in Seoul. It was then counted as 608 in Nowon-gu, 526 in Gangseo-gu, 458 in Songpa-gu, and 413 in Guro-gu.
First-time homebuyers can be subject to a relatively high mortgage ratio (LTV), and real demand for "buy before it's too late" is believed to have moved as house prices and lease prices continue to rise. In particular, demand was concentrated in areas with relatively low price burdens in Seoul, such as Eunpyeong, Nowon, and Gangseo, especially among those in their 30s.
Anxiety over rising housing prices in Seoul also seems to have affected the increase in purchases for the first time in his life. According to KB Real Estate, the Seoul apartment sales price index has risen every month without falling once since January this year until last month. Unrest in the monthly rent market is also cited as a factor that accelerates the timing of buying my house.