Both real estate sales volume and transaction amount increased in the first quarter

Thanks to the government’s first and third real estate measures, both the sales volume and transaction amount of the nationwide real estate market in the first quarter of this year increased compared to the previous quarter.

On the 11th, Real Estate Planet, a company specializing in commercial real estate, analyzed the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport. did. The transaction amount also increased by 26% from the previous quarter (50.8054 trillion won) to 64.59 trillion won.

A real estate agency in Seoul. yunhap news

However, compared to the sales volume (313,863 cases) and transaction amount (90,754.3 billion won) of the same period last year, these figures decreased by 24.7% and 29.5%, respectively. It is true that real estate transactions entered a recovery phase in the first quarter of this year, but it seems that it will take time for the transaction cliff to be completely resolved.

The recovery of the real estate market in the first quarter of this year was led by apartments. The nationwide apartment transaction volume was 83,669, up 77.9% from the previous quarter (47,035). The transaction amount was also tallied at 31.7505 trillion won, up 128.3% from the previous quarter (13.9083 trillion won).

Apartment transactions increased in all 17 cities and provinces nationwide. In Seoul, apartment transaction volume increased by 204.6% compared to the previous quarter, and Gyeonggi (138.8%), Sejong (117.3%), Incheon (116.3%), and Daegu (80.1%) also rose sharply.

Commercial real estate, on the other hand, has yet to escape the cold wind. In the first quarter, the nationwide commercial and office building transaction volume was 2,698, down 3.6% from the fourth quarter of last year (2,800). The transaction amount was also recorded at 4.657 trillion won, down 39.1% from the previous quarter (7.6484 trillion won).

Seoul recorded 52 building transactions in January this year, the lowest since 2008, but is gradually increasing, with 97 in February and 104 in March.

Jeong Su-min, CEO of Real Estate Planet, said, “The real estate market in the first quarter of this year was a time when various indicators could rise and fall, and various interpretations could emerge.” As much as it seems, it is important to keep an eye on market changes and respond promptly,” he said.

Reporter Sejun Park

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