Last month, the number of first-time purchases of collective buildings exceeded 7,500, the most in four years and eight months. The main buyers were analyzed to be people in their 20s and 30s.
On the 18th, ZIGBANG CO. reviewed first-time purchase trends for collective buildings in Seoul from the Supreme Court Registration Information Plaza and found that the total number of first-time purchases in Seoul in July (7,547 cases, as of Aug. 12) was at the highest level since November 2021 (7,886 cases). Compared with the previous month (7,210 cases), it rose 4.7%.
By age, purchases by people in their 20s and 30s stood out in July. First-time purchases by people in their 20s increased from 765 cases in June to 887 in July, raising their share of the total from 10.6% to 11.8%. Those in their 30s also increased from 3,979 to 4,300, with their share expanding from 55.2% to 57.0%. In contrast, those in their 50s fell from 654 to 571, and those in their 60s decreased from 321 to 274, and it was found that the July increase in first-time purchases centered on people in their 20s and 30s.
Because first-time dwelling purchases are subject to relatively relaxed lending standards compared with non-first-time, general purchases, this appears to have affected buying conditions for actual-demand buyers in their 20s and 30s, whose financial capacity is relatively limited. In addition, there may have been a combination of demand choosing to buy due to a recent shortage of jeonse listings and movement among actual-demand buyers who had been considering purchasing dwellings.
By district, Eunpyeong had the highest share. In July, first-time purchases in Eunpyeong totaled 841, accounting for 11.1% of the Seoul total (7,547). Eunpyeong has relatively lower-priced dwellings within Seoul, subway Lines 3 and 6 that provide access to the city center, and large complexes created through redevelopment, factors seen as drawing interest from first-time buyers.
Next were Nowon (607 cases, 8.0%), Gangseo (526, 7.0%), Songpa (458, 6.1%), and Seongbuk and Guro (413 each, 5.5%). Nowon, Gangseo, Seongbuk, and Guro can be viewed as showing a trend similar to Eunpyeong in that an analysis of actual transaction price ranges also shows a high share of deals at 1 billion won or less, whereas Songpa, despite being a relatively high-priced area (2.5 billion to 4.0 billion won range, 30.3%), still ranked near the top in first-time purchase counts, showing that actual-demand buying is broad-based regardless of price range.