In the first quarter (January to March) of this year, the nationwide apartment transaction volume increased by more than 17,000 compared to the previous year. In particular, the transaction volume in Seoul more than doubled compared to the previous year, leading the nationwide increase in transactions.
According to Real Estate R114 and the real estate information analysis firm The PR on the 20th, the nationwide apartment transaction volume for the first quarter of this year is 123,169. This figure represents an increase of 17,492 compared to the same period last year (105,677). It has risen approximately 1.5 times after recording the lowest level of 83,184 transactions in the first quarter of 2022, marking a clear recovery over three years.
In particular, the increase in Seoul is remarkable. In Seoul, 17,325 transactions took place in the first quarter, which is more than double the same period last year (8,603). An increase of 8,722 transactions occurred in one year, marking the highest increase in the country, which accounts for nearly half of the nationwide increase.
In Gyeonggi Province, the transaction volume increased from 26,779 to 34,211, an increase of 7,432, following Seoul. The increase in transaction volumes in both regions accounted for 16,154, which reached 92% of the nationwide increase. In Incheon, the transaction volume grew from 6,556 to 6,963, showing a relatively slower increase of 407.
In the provinces, Ulsan and Gwangju recorded the largest increases. However, the increases were limited to 615 transactions each. Additionally, there were increases in Busan (416), Jeonbuk (401), Sejong (393), Gyeongnam (110), Daejeon (77), and Chungbuk (9).
On the other hand, North Gyeongsang Province saw the largest decline, with transactions decreasing by 517. South Jeolla (-454), South Chungcheong (-267), Gangwon (-246), Daegu (-217), and Jeju (-4) also experienced declines in transactions.
A real estate industry official noted, "In Seoul, the demand for apartment purchases has rapidly increased due to the insufficient supply compared to demand and expectations for reconstruction, while in the provinces, the foundation for actual demand is relatively weak, and with population outflows and changes in industrial structure, purchasing sentiment is not easily recovering, so polarization between regions is expected to further intensify for the time being." The official added, "In the capital region, transaction volumes are expected to increase significantly until June due to the three-phase stress debt service ratio (DSR) implemented from July, and there is a high possibility that demand will concentrate on complexes that have announced recruitment notices by the end of June in the new sale market."