(Maekyeong DB)

65% of housing transactions in Seoul this year are villas… The price is less than a third of apartment prices

(Maekyeong DB)

It was found that 65% of the houses sold in Seoul this year were villas (multi-family and row houses).

According to the Korea Real Estate Agency’s statistics on sales by housing type on the 4th (as of the reporting date), 3,303 villas were counted among the 5098 total housing sales (single-family, multi-family, multi-family, row house, and apartment) in Seoul in March of this year. This is the highest ratio ever recorded on a monthly basis since the Korea Real Estate Agency started collecting related statistics in 2006.

In particular, in Seoul, apartments usually account for about 60% of housing sales. However, the proportion of villa sales last year was 51.1%, a record high on an annual basis. The proportion of villa sales has steadily increased this year as well, exceeding the 60% range for the first quarter in a row.

Due to the perception that villas are not well-traded, liquidity is poor, and prices do not rise well, home buyers generally preferred apartments to villas. However, in 2020, the number of apartment sales has declined due to the steady rise in apartment prices in Seoul. The Seoul apartment price announced last month by the Ministry of Land, Infrastructure and Transport showed a 14.22% increase compared to last year, and the share of apartments in the total number of housing sales in March this year was 24.2%, the lowest monthly since statistics began to be compiled.

On the other hand, villa sales seem to have steadily increased because villas are relatively cheaper than apartments and are less affected by loan regulations. In fact, based on the market price of the Korea Real Estate Agency, the average apartment price in Seoul in March of this year was 1.150.15 million won, and the average sale price of a villa was 35267 million won, less than a third of the apartment price. If a homeless person purchases a villa whose market price does not exceed 900 million won, unlike an apartment, a separate jeonse loan can be obtained.

The ratio of villa sales by autonomous district in Seoul was found to be Gangbuk-gu (84.5%) and Gangseo-gu (83.3%), and the ratio of villa sales to the total house sales in these two regions exceeded 80%. Yangcheon-gu (79.7%), Geumcheon-gu (74.5%), Eunpyeong-gu (72.8%), Songpa-gu (72.6%), Dobong-gu (71.9%), Gangdong-gu (71.7%), Guro-gu (69.8%), Mapo-gu (67.2%), Jungnang-gu (66.9%). Dongjak-gu (66.3%) and Gwanak-gu (64.9%) were surveyed in that order.

Hansol Hwang, a research researcher at Economic Manlab, said, “Recognizing that villas are relatively liquid and prices do not rise, end-users preferred apartments, but as apartment prices rise rapidly, they are turning their attention to villas.” There is also the expectation of deregulation, which seems to have influenced the purchase of villas.”

[고혜영 인턴기자]

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