In the first half of this year, the number of homes in Seoul that changed owners through compulsory auctions surged.
On the 9th, an analysis by the real estate information app Jippoom of data from the Supreme Court's Registry Information Plaza found that applications for registration of ownership transfer after compulsory auction sales in Seoul from January to June this year totaled 3,308, up 42.5% (987 cases) from a year earlier. By month, there were 441 in January, 645 in February, 507 in March, 627 in April, 499 in May, and 589 in June.
An application for registration of ownership transfer due to a compulsory auction refers to a registration filed to transfer ownership to the successful bidder after a debtor's real estate is sold through a court auction process. It is used as an indicator to gauge debt and sales trends in the real estate market.
During this period, Gangseo District had the most compulsory auction registration applications with 1,102, accounting for 33.3% of Seoul's total. It was followed by Geumcheon District with 331, Guro District with 306, Yangcheon District with 279, and Gwanak District with 185. The five southwestern districts alone accounted for a total of 2,203 applications. That is 66.6% of all registrations in Seoul.
By growth rate, Yeongdeungpo District showed the most pronounced change. Compulsory auction registration applications in Yeongdeungpo rose 117.2% from 58 last year to 126. Gangbuk District also increased 64.2% from 53 to 87.