[이코노믹리뷰=신진영 기자] Last year, one out of four people who bought an apartment in Gangnam 3-gu (Gangnam, Seocho, Songpa) appeared to be residents of other regions. As the myth of’Gangnam unbeaten’ persists, demand for residents of other regions in Seoul increased. In the real estate industry, as regulations for multi-homeowners were strengthened and low interest rates were prolonged, liquidity became abundant, and it was analyzed that Gangnam apartments were judged to be a more’stable’ investment destination than other regions.
On the 6th, the Korea Real Estate Agency’s apartment purchaser and residence data revealed that the number of apartment sales in Gangnam 3-gu last year was 11,433 cases. Among them, 2927 apartments were purchased by residents of other regions. The share of apartment purchases by residents of other regions in Gangnam 3 district reached 25.6%. This is an all-time high since 2006, when the Korea Real Estate Agency started preparing related statistics.
Among the 25 autonomous districts in Seoul, Gangnam-gu had the highest proportion of apartment purchases by residents of other regions. From January to November last year, 961 out of 3809 apartment sales transactions in Gangnam-gu were purchased by residents of other regions. The share of purchase by foreigners reached 27.5%.
Looking at the sale of apartments in Songpa-gu from January to November 2020, out of a total of 4635 apartments, 1224 apartments were purchased by residents of other regions. The proportion of apartment purchases purchased by outsiders was 26.4%. During the same period, out of 3141 apartment sales transactions in Seocho-gu, the number of purchases in other regions was 697, confirming that the proportion of apartment purchases by outsiders was 22.2%.
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The prices of apartments in Gangnam District 3 are also rising. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price statistics system, 84㎡ dedicated to’Yeoksam Prugio’ in Yeoksam-dong, Gangnam-gu, Seoul, was traded for 2,280 million won (2nd floor) last January. In December, it was traded at 2.32 billion won, an increase of 240 million won last year alone.
The 84㎡ dedicated to’Banpozai’ in Banpo-dong, Seocho-gu, was also sold at 2.65 billion won (20th floor) last January. On December 26th, it was traded at 2.8 billion won (18th floor), raising 175 million won. During the same period, the 84㎡ dedicated to Songpa Reminis in Songpa-gu also rose 280 million won from 1.1 billion won (16th floor) to 1.38 billion won.
An industry insider explained that as real estate regulations included Busan, Ulsan, and Changwon, Gyeongsangnam-do, beyond the metropolitan area, floating funds were concentrated in apartments in Gangnam, Seoul, where investment value was high. For this reason, some people evaluated that the measures the government came up with to control apartment prices eventually strengthened the myth of’Gangnam unbeaten’.
The share of apartment purchases in Seoul by residents from January to November of last year was also the highest ever. Of the 85,020 apartment sales transactions in Seoul during this period, 18966 apartments were purchased by residents in other regions, accounting for 22.3%. It recorded the highest level since related statistics were prepared.
Hwang Han-sol, a research researcher at Economic Man Lab, explained, “Even if the government tries to fix apartment prices due to real estate regulations, it will shrink for a while and then rise again.”
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