As a result of the removal of the land transaction permission zone in Gangnam, the transaction volume of apartments in Seoul has increased and prices have also risen. It was analyzed that in March, the buying proportion of those in their 40s exceeded that of those in their 30s.
According to the Korea Real Estate Board's report on apartment sales transactions by buyer age group on the 4th, among the 9,349 cases of Seoul apartments reported sold in March, those in their 40s accounted for 33.8% (3,158 cases), ranking first by age group. This is higher than the 32.5% (3,041 cases) from those in their 30s.
The buying proportion of those in their 30s for apartments in Seoul had been high until last year, following the disclosure of relevant statistics in 2019. In 2019, the buying proportion for those in their 30s was an average of 28.8%, slightly ahead of those in their 40s (28.7%). However, in 2020, the proportion for those in their 30s rose to 33.5%, widening the gap with those in their 40s (27.5%).
In 2021, when the new term 'young-kkeul-jok' was born, those in their 30s (36.4%) were startled by rapidly rising apartment prices and purchased a large number of apartments in Seoul, widening the gap to 10 percentage points over those in their 40s (26.4%).
However, last year, due to the burden of interest rates, the implementation of the second stage of the debt service ratio (DSR), and the cessation of loans from commercial banks, the buying momentum of those in their 30s diminished, causing the buying proportion of those in their 40s (31.7%) to increase to a level comparable to those in their 30s (31.9%).
Until the first half of last year, the buying proportion of those in their 30s was the highest, but from July to November, for five months, those in their 40s slightly surpassed those in their 30s. Subsequently, from December of last year to February of this year, the buying proportion of those in their 30s was higher again, but in March, those in their 40s reversed the trend.
The renewed increase in the proportion of those in their 40s in March is largely attributed to the rise in transaction volume in popular areas such as Gangnam, where apartment prices are high, and 'Mayaongsung' (Mapo, Yongsan, Seongdong) due to the removal of the land transaction permission zone.
In Gangnam and Seocho districts, the buying proportions for those in their 40s were 42.8% and 44.5%, respectively, overwhelmingly surpassing those in their 30s (19.5% and 21.1%, respectively). In Songpa and Gangdong districts, the buying proportions for those in their 40s were also higher at 35.6% and 35.3%, compared to those in their 30s (26.9% and 25.5%). The gap exceeded 10 percentage points in Yongsan and Yangcheon districts, where apartment prices are strong due to urban redevelopment and other favorable conditions, with those in their 40s (38.1% and 43.8%) outperforming those in their 30s (25.5% and 30.4%).
In contrast, last month, the buying proportion nationwide for those in their 30s was 27.3%, higher than that of those in their 40s (26.3%). Since 2019, the buying proportion of those in their 40s has been higher nationwide, but starting in 2023, those in their 30s have begun to slightly surpass those in their 40s on an annual average basis, and this trend of strength among those in their 30s has continued into this year.