Gyeonggi Apartments, Buying Interest Remains Strong

Cases of asking prices rising by 20 million won right before contract signing are occurring, properties in the 1 billion to 1.2 billion won range are scarce, and buying interest is concentrated even in mid-to-low-priced apartments near subway stations in the 600-700 million won range.

High-priced apartments are showing an increase in listings and price adjustments after tax calculations, with asking prices declining primarily in already overheated areas like Gangnam.

Conversely, in the mid-to-low-priced market, properties remain scarce, and competition among buyers continues.

The current market's supply shortage has reached a 'great famine' level, far more severe than the housing shortage of 2020-2021.

New housing supply will be historically scarce in the next 2-3 years, and both existing properties and jeonse listings are insufficient.

With average monthly rents rising to 1.6-2 million won, the validity of converting from rent to purchase is being discussed.

Current home loan interest rates are around 5.3% to 5.8%. It is necessary to compare and analyze monthly rent costs and loan interest expenses to determine if they can be managed within 30-50% of one's salary.

Young people seeking homeownership are showing a different trend than in 2022, focusing on acquiring their own home rather than multi-property investment.

Experiences such as purchasing a home within an hour of Gangnam can teach the principles of a capitalist economy. It is recommended to observe market trends and take concrete action rather than stopping out of fear.

If one stops due to the psychological fear of buying at the peak of the 2021 panic buying, they may miss opportunities even 5-10 years later. Therefore, concrete actions such as real estate tours and loan consultations are necessary, even if an immediate opportunity does not arise.

The impact of the reform plan was significant enough to make existing multi-homeowners reconsider their lists and contemplate disposal due to reduced benefits for joint ownership and aggregated values.

It is fortunate that the reform plan was somewhat softened through public criticism and opinion gathering.

Despite concerns about the policy that reduces the non-taxable capital gains limit to 1 billion won, the position is that there is no need to give up.

Government policies and interest rates always change and repeat in cycles according to economic conditions, so if one's financial situation allows, it is wiser to choose a place for long-term residence rather than giving up a good location due to policy.

Real demanders who were anxious due to exhausted loans in the first half of the year felt relieved after the announcement of financial support measures.

It was a breath of fresh air for ordinary people who had used all possible means, such as high-interest products or collateral from acquaintances.

As consultations and loan applications became smoother, successful cases are emerging in the field.

The upward trend continued in Gangnam's three districts, the Han River line, and then Dongdaemun, Seongbuk, Yangcheon, and Yeongdeungpo, and has now spread to Gyeonggi Province.

Core areas in Gyeonggi Province can be a better choice than non-mainstream properties in Seoul.

It is necessary to recognize that there are many good places in Gyeonggi Province to choose properties with ensured transaction transparency.

Supply delays in areas like the 3rd new town make them unlikely solutions, and currently, there is no other method besides supplying rental properties from existing homes.

LH-centered new construction supply does not adequately reflect the needs of actual demanders.

The current jeonse and monthly rent market is severe, with rising monthly rents due to jeonse depletion.

Whether to use the lease renewal right is a turning point in purchase decisions, and jeonse properties are almost nonexistent in areas like Suji, Pyeongchon, and first-generation new towns, where school districts and relocation demand overlap.

Before buying a home, all available funds, including interest rates, must be meticulously calculated.

Family living expenses, considering fixed expenditures, must be secured first, and an apartment should be sought within reasonable limits.

It is crucial to carefully review the timing of deposit returns at the end of a jeonse contract and the variability of loan situations.

If there is no lease renewal right, it is more advantageous to purchase quickly, and the apartment price is likely to be higher tomorrow.

It warns that today's apartment could increase by 20 or 30 million won in an hour.

The key is to align the moving and balance payment dates between transaction parties simultaneously, and adjusting the balance payment time is essential to secure repair periods.

When securing assets, immediately available money should be prepared in checking or savings accounts in advance.

When acquiring a home, blindly following others has a high chance of failure, so one must first establish their own unwavering standards.

A clear purchase objective based on one's needs, such as commuting and children's education, is required.

If there is a clear purpose, one can purchase even an old, established building or an apartment on a hill without hesitation.

When selling a house, it is important to decorate it like a model home and maintain it cleanly.

The house's marketability should be improved by spending millions of won to replace wallpaper, flooring, lighting, and dispose of old items.

Proactive selling activities are needed, such as actively requesting briefings from real estate agents and securing priority in listings through continuous communication.

Goyang-si Deogyang-gu's Line 3 and Bucheon's Line 7 are drawing attention as promising investment areas in the metropolitan region.

Goyang-si Deogyang-gu has good access to Gangnam via Line 3 and still has many decent complexes under 500 million won, with the benefit of GTX-A opening and access to Daegok Station.

Bucheon's Line 7 already has excellent infrastructure, and there are complexes where one can invest with a jeonse in the 300-400 million won range.

Compared to the No-Do-Gang (Nowon, Dobong, Gangbuk) areas, a disadvantage is poorer access to Seoul, leading to lower job accessibility.

If the goal is asset growth, areas within an hour of Gangnam should be preferred. If one must go to northern Gyeonggi, it is best to selectively look at places with GTX connections that allow Gangnam access within an hour.

The need for clear investment selection criteria due to insufficient job accessibility is emphasized.

Beomgye Station is well-equipped with amenities like department stores, and excellent school district assignments act as a strength, attracting much demand.

Areas outside Gyeongsu-daero might be excluded from school district assignments even if they are within the Beomgye station area, so it is advantageous to choose a location with a strong intersection of school districts and station area infrastructure.