Daejeon Housing Transactions Decline... Yuseong Down 18%, Seo-gu Down 10%

Quarterly Real Estate Transaction Report Status Graph. Provided by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Housing transaction volumes in the Daejeon area have decreased, centered around speculative overheated districts.

On the 17th, Daejeon City announced that according to the analysis of housing transaction trends, the number of housing transactions in the second quarter decreased by 246 cases (3.28%) and the area by 217,000㎡ (9.8%) compared to the first quarter.

In the second quarter, the number of reported transactions by housing type was 6,621 for apartments and 654 for detached houses, totaling 7,275 cases.

By housing type, compared to the first quarter, apartment transactions decreased by 362 cases, while detached house transactions increased by 116 cases. However, detached house transactions decreased by 33% compared to the second quarter of last year.

By autonomous district, compared to the first quarter, transaction volumes decreased by 18.7% in Yuseong-gu and 10.6% in Seo-gu, both classified as speculative overheated districts, whereas Daedeok-gu increased by 20.5%, Dong-gu by 8.2%, and Jung-gu by 3.5%, showing a contrasting trend.

This is interpreted as Yuseong-gu and Seo-gu being classified as speculative overheated districts where the upward trend had been clear, while other areas experienced relatively less fluctuation in housing prices.

In fact, looking at last year's transaction status in the designated speculative overheated districts, before the designation on June 19, there were 23,928 transactions, and after designation, 15,280 transactions, showing a 36% decrease in transaction volume.

Conversely, Daedeok-gu had fewer transactions compared to other autonomous districts, but transactions increased significantly centered around Beop-dong, Songchon-dong, and Birae-dong.

In particular, the city explained that the designation of public housing districts in Sangseo-dong and Wadong areas in May appeared to have acted as a positive factor for the increase in housing transaction volume.

Additionally, in Dong-gu, transactions were concentrated mainly in Panan-dong and Gayang-dong, and in Jung-gu, mainly in Mok-dong and Jungchon-dong.

Jung Hae-gyo, Director of the City Urban Housing Bureau, said, “The designation of speculative overheated districts and the impact of COVID-19 have led to an economic downturn, resulting in an overall decrease in real estate transaction volumes.” He added, “The city plans to closely monitor real estate transaction trends, including compliance with actual transaction reporting in the future.”

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