"Second Half, Han River, GTX... Marriage and Housing Subscription Are the Answers" ... Woori Bank's Real Estate Investment Strategy for This Year

Woori Bank has presented its real estate investment strategies for this year, highlighting the second half of the year, riverside areas along the Han River, and the metropolitan wide-area rapid transit (GTX) in the Seoul metropolitan area. In particular, it identified 'marriage and subscription' as the best real estate investment method for the youth.

Ham Young-jin, head of Woori Bank's Real Estate Research Lab, attended a press briefing held at the bank's headquarters in Jung-gu, Seoul, on the morning of the 7th, where he announced the "Top 5 Real Estate Investment Strategies for 2024." Woori Bank recently established the Real Estate Research Lab (tentative name) within its Asset Management Consulting Center starting this month.

First, Ham predicted that the optimal time to purchase a home would be in the second half of this year. While a decline in housing prices is expected until the first half, he advised buyers to start purchasing once a recovery in housing transaction volume is confirmed from the second half, when a base interest rate cut is anticipated.

For those considering apartments in the Seoul area, Ham advised paying attention to riverside areas along the Han River and the Gangnam district. In particular, demand is expected to concentrate in Yongsan-gu and the Gangnam 3 districts, where transportation networks are improving and redevelopment regulations are being eased in line with market recovery. Additionally, riverside areas in Yongsan-gu and Mapo-gu could also be options, according to the bank.

Targeting areas with growing populations can also be a strategy. Regarding the GTX-A line, which is scheduled to open at the end of this month, Ham recommended station areas around Giheung-gu in Yongin City. For the first-generation new towns subject to the Special Act on Aging City Plans, Bundang was prioritized.

Ham especially advised young people to make good use of the special supply for newlyweds and the subscription system, which are part of low birthrate countermeasures. Since the subscription period for newlyweds is cumulatively applied, it is more advantageous than for singles, so he strongly recommended applying for subscriptions in prime areas such as Seoul.

For jeonse (long-term lease) demanders, he mentioned that they should aim for large-scale move-in events scheduled for the second half of the year. Although jeonse prices are expected to rise due to a decrease in apartment move-in volumes, relatively affordable jeonse properties may become available in large-scale complexes scheduled for move-in in the second half.

Ham has accumulated real estate research and consulting expertise at Real Estate 114 and Zigbang, and was recruited by Woori Bank earlier this month.

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