[Breaking News] Apartment Regulations Lead to 'Balloon Effect' in Multi-family, Row Houses, and Officetels

[Asia Economy Reporter Heo Midam] As the government’s consecutive real estate measures have focused on apartment regulations, a 'balloon effect' is emerging, with investment demand concentrating on multi-family houses, row houses, and officetels, mainly in Seoul and the Gyeonggi area.

According to the Gyeonggi Real Estate Portal on the 19th, the number of multi-family and row house transactions in the Gyeonggi region last month (June) reached 6,186 as of this date, marking the highest volume in 12 years and 1 month since May 2008 (6,940 transactions).

The multi-family and row house market in Seoul shows a similar trend. According to statistics from the Seoul Real Estate Information Plaza, multi-family and row house transactions in Seoul last month totaled 5,748 as of this date, breaking the highest record in 2 years and 3 months since March 2018 (5,950 transactions).

The officetel market is also following the same pattern. Until May, the number of officetel transactions in Seoul and Gyeonggi were 5,312 and 3,907 respectively, surging 56.3% and 49.2% compared to last year.

Additionally, the number of officetel transactions in Seoul in June this year reached 1,241 as of this date, marking the highest volume so far this year.

This content was produced with the assistance of AI translation services.