A resident, referred to as A, from Ichon-dong in Yongsan said, "Compared to Gangnam, Yongsan hasn't increased much at all. Mapo and Seongdong have risen significantly, so I don't understand why only Yongsan has been designated as a land transaction permission zone (land transaction permission system)."
On the 19th, when Seoul Mayor Oh Se-hoon decided to expand the land transaction permission system to include Gangnam, Seocho, Songpa, and Yongsan, A, who owns an apartment in Ichon-dong, expressed dissatisfaction while stating this.
A noted, "Other areas have increased too much, so it may be necessary to strengthen regulations under the land transaction permission system," adding, "However, since Banpo grouped together Jamsil, Samsung, Daechi, and Cheongdam under the land transaction permission system, there has been a balloon effect, resulting in surging prices, which they have benefited from greatly." He continued, "In contrast, Yongsan has barely recovered its previous high, and facing the same regulations under the land transaction permission system feels unfair to the homeowners in Yongsan."
On that day, B, a resident met at the Han River apartment complex in Ichon-dong, stated, "Those looking to sell existing apartments and buy other apartments within Yongsan are worried that their owned apartments may not sell due to the land transaction permission system," but added, "Current homeowners residing in Yongsan apartments are reacting that the designation of the land transaction permission system is not a big deal."
According to the local real estate industry in Yongsan, inquiries from apartment owners via currency transactions continued steadily at real estate agencies in Yongsan throughout the day.
C, a representative from a real estate agency in Ichon-dong, stated, "Since the news of the land transaction permission system designation in Yongsan came out in the morning, calls from homeowners have poured in," explaining, "Homeowners who had been delaying their selling point since last year due to continuous rising apartment prices until the beginning of this year have asked if it would be better to sell quickly."
D, who operates another real estate agency in Ichon-dong, mentioned, "Since it's the first time Yongsan is facing regulations under the land transaction permission system, many callers are curious about what will change," and asked, "Prices have risen significantly in a short period, but during the six-month land transaction permission period, won't the prices decline and increase be restricted?"
On that day, among the real estate agency officials in Yongsan, there were rush sales for apartments with Jeonse contracts under the condition that deals would be finalized by March 23, the day before the land transaction permission system went into effect.
The real estate market in Banpo-dong, Seocho-gu, which has also become subject to the land transaction permission system like Yongsan, appeared to be unsettled. In particular, agents from real estate agencies in Banpo-dong noted that many calls were made by owners of apartments that had been highlighted for significant 'gap investments', inquiring when the sales of apartments with Jeonse contracts would be blocked.
E, who operates a real estate agency in Banpo-dong, said, "I expected that Banpo would eventually be put under the land transaction permission system, and now it has gone into regulation." He added, "For the time being, transactions will decrease, and prices will undergo some adjustments, but when the land transaction permission system is lifted, there is a high likelihood that prices will rise again."