Have All Homebuyers Bought Already... 2030 Panic Buying Also Slows Down

Seoul Apartment Transaction Volume Plummets Amid Stabilization Trends

As apartment sales transactions in Seoul decrease and listings accumulate, the proportion of home purchases by the 2030 generation has also declined.

According to the monthly transaction status by buyer age group from the Korea Real Estate Board on the 29th, the number of apartment sales transactions in Seoul last month (based on the reporting date) was recorded at 1,953. This is about a 17% decrease compared to 2,353 transactions in the previous month. Purchases by those aged 20 and under also dropped by about 25%, from 305 to 228 during the same period.

The share of apartment purchases by the 2030 generation also decreased across all age groups. The proportion of transactions by those in their 30s fell from 39.6% in January to 35.9% in February, while those aged 20 and under decreased from 5.1% to 4%.

On the other hand, the share of transactions by those aged 40 and above increased. During the same period, the 40s age group rose from 25.8% to 27.7%, the 50s from 15% to 15.9%, the 60s from 8.3% to 9.4%, and those aged 70 and above from 4.7% to 5.6%.

The buying share of those in their 30s was particularly notable in areas densely populated with mid-to-low priced apartments. In Nowon-gu, for example, nearly half of all buyers in January (44.9%) were in their 30s, but this proportion dropped to 38.0% (216 cases) in February. During the same period, Dobong-gu fell from 40% to 30.5%, and Gangbuk-gu sharply declined from 45.2% to 31.1%.

As the buying momentum of those in their 30s, who led the rise in housing prices due to panic buying last year, slows down, the number of apartment listings in Seoul is also increasing. According to Asil (Apartment Real Transaction Price), a real estate big data company, as of the 28th, the number of listings for sale in Seoul was 47,157. This represents an increase of about 17-18% compared to the beginning of the year.

An official from the Korea Real Estate Board assessed, "The buying momentum is stabilizing amid expectations of expanded supply due to the government's 2·4 housing supply plan and the announcement of the Gwangmyeong-Siheung new town."

Meanwhile, KB Real Estate's Buyer Dominance Index fell below 100 for the first time this year, recording 96.2 in the first week of March. When this index exceeds 100, it means there are more buyers; below 100 indicates the opposite. In the second week, it recorded 90.3, and in the third week, 82.4, marking three consecutive weeks below 100.

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