Total Actual Transaction Amount of Seoul Apartments, Jeonse Price Exceeds Sale Price by 20 Trillion Won

Total Sales Amount in December Last Year Was 24% of Jeonse "Due to Transaction Cliff"

Last year, the total actual transaction amount for apartment jeonse (long-term lease) in Seoul exceeded the sales amount by 20 trillion won. Typically, the total actual transaction amount for sales was higher, but it is interpreted that the two figures were reversed due to an extreme transaction freeze.

On the 31st, Zigbang compiled the total actual transaction amount for apartment sales in Seoul last year based on the Ministry of Land, Infrastructure and Transport's actual transaction price system, which amounted to a total of 43.0964 trillion won.

On the other hand, the total transaction amount for apartment jeonse (excluding monthly rent) in Seoul last year was 62.404 trillion won, about 20 trillion won more than the total sales amount.

Previously, in 2020, the total actual transaction amount for apartment sales in Seoul was 68.7037 trillion won, about 4 trillion won more than the total jeonse actual transaction amount (64.7893 trillion won).

This decrease in the total actual transaction amount for sales is analyzed to be due to an extreme transaction slump.

According to the Seoul Real Estate Information Plaza, the number of apartment transactions in Seoul was 81,189 in 2020, but due to the severe transaction slump last year, it decreased by 47.9% to 42,279.

In particular, the total actual transaction amount for sales in December last year, which recorded the lowest transaction volume ever, was 1.1349 trillion won, only 24.2% of the jeonse transaction total of 4.6906 trillion won.

Experts point out that the sharp decline in transactions was caused by the difficulty multi-homeowners faced in selling houses due to increased capital gains tax, expanded concerns over price drops following short-term rapid price rises, stringent loan regulations, and interest rate hikes.

Ham Young-jin, head of Zigbang Big Data Lab, said, "Due to the recent rise in apartment prices, the total actual transaction amount for apartment sales in Seoul was mostly higher than the total jeonse amount," adding, "Last year was an exceptional case where the total sales amount was lower."

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