Seoul Housing Prices Surge 7-Year High: Buyers Queue in Lines to View Apartments

Описание: Translated and dubbed using AI.
#southkorea #newstoday #apartment

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【 Anchor's Comment 】
The increase in Seoul apartment prices is accelerating.
The weekly rate of increase has climbed back to levels seen during the booming Moon Jae-in administration in 2018.
In the Gangnam area and along the Han River, even old apartments are nearly sold out, with reports of five teams queuing up to view properties each day.
Reporter Lee Seunghoon reports.

【 Reporter 】
An apartment in Sinjeong-dong, Seoul, built over 20 years ago.

Out of 600 units, only two are available for sale.

Despite not being in a prime school district, inquiries are pouring in, and prospective buyers have to view the property with others.

▶ Interview: Real Estate Agent
"Given the lack of inventory, it's common to have 5-6 teams viewing on weekends..."

It's difficult to receive deposits from sellers, and some who have sold their homes are looking to back out of contracts even if it means losing their deposit.

▶ Standing: Lee Seunghoon / Reporter
"This week, the increase in Seoul apartment prices is 0.36%, marking the largest rise in 6 years and 9 months since September 2018."

The Gangnam area and Seongdong both saw an increase of 0.76%, the highest in 12 years, while Mapo-gu recorded its highest rate since statistics began.

The number of properties available has also sharply decreased, with some districts seeing over a 20% drop compared to a month ago.

The situation is rapidly escalating, yet the government has yet to provide substantial measures.

▶ Interview (☎): Koh Jong-wan / Head of Korea Asset Management Research Institute
"Expectations for interest rate cuts and a hopeful sentiment due to the new government are likely to maintain the upward trend in Seoul and the metropolitan area for a considerable period..."

As the city of Seoul begins to secure all transaction addresses to monitor gap investments, concerns regarding overheating apartment prices are expected to grow.

This is MBN News, Lee Seunghoon reporting.
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Video coverage: Baek Seong-woon VJ
Video editing: Lee Yu-jin
Graphics: Baek Mi-hee