Nine out of 10 apartment sale contracts signed in Seoul in February were for 1.5 billion won or less, data showed.
An analysis of data registered in the Ministry of Land, Infrastructure and Transport actual transaction disclosure system on the 18th found that, as of the previous day, 850 of 975 apartment sales in Seoul in February (87.2%) were for 1.5 billion won or less. In other words, nine out of 10 apartment sale contracts registered so far this month in Seoul were for 1.5 billion won or less.
This is seen as buying interest concentrating on apartments priced at 1.5 billion won or less, where a mortgage loan can be taken out to the maximum. Earlier, in the "6·27 measures" released in June last year, the government capped mortgage loan limits in the greater Seoul area and other regulated areas at up to 600 million won.
Then, in October of the same year, the "10·15 measures" further tightened loan regulations by differentiating mortgage limits. While dwellings priced at 1.5 billion won or less can still receive mortgage loans of 600 million won, those priced over 1.5 billion won and up to 2.5 billion won, and those over 2.5 billion won, saw the mortgage limits reduced to 400 million won and 200 million won, respectively.
This trend has become more pronounced over time. From Oct. 16 to Oct. 31 last year, when the loan regulations under the 10·15 measures began to apply, the share of Seoul apartment sales at 1.5 billion won or less rose from 64.6% to 73.2% in November and 81.5% in December.
Although the 30-day deadline to register sale contracts has not yet passed, last month the share of Seoul apartment sales at 1.5 billion won or less was 80.2%, already surpassing 80% following the previous month.
In addition, from the new year through the previous day, the district with the most sales in Seoul was Nowon District (671). It was followed by Seongbuk District (395), Gangseo District (373), Guro District (355), Songpa District (318), and Dongdaemun District (287).
It is analyzed that, with financing capacity constrained by loan regulations, buying demand is concentrating in outer Seoul areas where mid- to low-priced apartments are clustered.
In particular, there are signs of so-called "leveling" and "gap-narrowing," with sale prices of apartments in these areas converging on 1.5 billion won. A 114.86-square-meter unit in Gireum New Town Complex 9 (Raemian) in Gireum-dong, Seongbuk District, Seoul, sold on the 5th for 1.495 billion won on the 2nd floor. Compared with a unit on the same floor that signed a sale contract on the 27th of last month for 1.38 billion won, the price rose by more than 100 million won in just a few days. A 101.48-square-meter unit on the 23rd floor in Daerim 2nd in Sindorim-dong, Guro District, Seoul, sold on the 3rd for 1.49 billion won, setting a record high for that size.