On Feb., the nationwide real estate market showed a stagnant trend as both the volume of transactions and sale amounts for most types, including apartments, declined together.
On the 15th, according to an analysis by commercial real estate corporations RealtyPlanet of transaction price statistics from the Ministry of Land, Infrastructure and Transport, nationwide real estate sale transactions in Feb. totaled 82,767. That was down 17.6% from 104,07 recorded a month earlier. Over the same period, sale transaction amounts also fell 13.6% from 38.2982 trillion won to 33.0902 trillion won.
Of the nine real estate types in total, transaction volume decreased in eight categories except for "factories and warehouses (general)."
In detail, factories and warehouses (collective) dropped 28.5%, marking the steepest fall. They were followed by shopping centers and offices (-27.0%), officetels (-24.9%), land (-19.8%), row houses and multiplexes (-18.7%), and apartments (-15.2%).
In transaction amounts, all types posted declines. Factories and warehouses (collective) plunged 33.0% from 174.2 billion won to 116.7 billion won, the largest drop. The contraction in transaction amounts was also large for officetels (-26.9%), shopping centers and offices (-24.9%), row houses and multiplexes (-21.6%), detached and multi-household homes (-18.1%), land (-13.2%), and apartments (-12.9%).
The apartment market, which has the largest share, also weakened. In Feb., nationwide apartment sales were 40,711 transactions, and transaction amounts were 20.7227 trillion won, down 15.2% and 12.9%, respectively, from a month earlier.
By region, only Seoul (6.8%) and Jeju (9.2%) saw increases in transaction volume. The other 15 cities and provinces, including Sejong (-29.7%) and Busan (-22.8%), all declined. Seoul (0.2%) was the only area where sale amounts increased.
Income-generating real estate also failed to avoid a downturn. Officetel sale transactions fell 24.9% from a month earlier, and transaction amounts decreased 26.9%. Shopping centers and offices also saw transaction scale and amounts shrink 27.0% and 24.9%, respectively. However, for officetels, transaction performance improved exceptionally only in North Jeolla and Ulsan.
A RealtyPlanet official said, "In Feb. this year, the nationwide real estate market saw sale amounts decline across all types amid a slowdown in transactions," adding, "There were rebounds in some indicators, such as Seoul apartments, but they were not enough to reverse the overall contraction in the market."