Last month, due to the lifting of the land transaction permission area, the transaction volume of Seoul apartments surpassed 5,000 for the first time in six months. The volume increased mainly in the Gangnam area.
According to the Seoul city government on the 16th, the transaction volume of Seoul apartments last month was recorded at 5,138 based on reports made by the 15th. With about two weeks remaining for the reporting deadline for February transactions, the volume is expected to increase further.
The total number of transactions for Seoul apartments surpassing 5,000 is the first occurrence in six months since August last year (6,537). After the government strengthened loan regulations in September last year, the number of transactions for Seoul apartments remained in the 3,000 range.
As of the 15th, examining the February transaction volume by autonomous district, the highest volume was reported in Songpa District with 428 cases. This was followed by Gangnam District (419 cases) and Gangdong District (344 cases). Notably, the number of transaction reports from Gangnam District has already surpassed double the volume of January (198 cases).
Of the 5,138 Seoul apartment sales reported by the 15th of this month, 3,281 contracts were made after the lifting of the land transaction permission on the 13th, accounting for 63.9% of the total. This means that 6 out of 10 reports for February were contracted after the lifting of the permission.
In Gangnam District, 288 of the total 419 cases were contracted after the lifting of the permission. This represents 68.7% of the February transaction volume. In Songpa District, 268 cases, or 62.6% of the 428 reports submitted so far, were contracted after the lifting of the Jamsil land transaction permission.
An increase in transaction volume is also being observed in areas outside of Gangnam. Of the 289 February transactions in Mapo District, 200 cases, or 69.2%, were contracted after the lifting of the permission on the 13th. In Seongdong District, 223 of 325 cases, or 68.6%, were contracted after the lifting of the permission.