00:00before you sign anything in korea's property market the numbers just changed seoul apartment listings are up twenty two point
00:06five percent from a year ago but transactions fell to their lowest level of the year in september it's wednesday
00:12november fourth
00:13let's look at what's happening in korea's property market seoul's apartment market is splitting in two trades in seoul fell
00:19to 3915 units in september less than half of may's level meanwhile listings climbed to 77 451 units up twenty
00:29two point five percent year on year prices are also diverging sharply gangnam's high-end rebuilding complexes are cooling under
00:37tighter loan rules and higher holding taxes while outer district apartments are seeing new highs as renters shift into
00:43buying here's what the numbers show mortgage rates are the pressure point to watch average fixed rate mortgages at major
00:48banks have crossed five percent for the first time in about fourteen years delinquency on bank mortgages reached zero point
00:55three one percent and delinquency among vulnerable borrowers hit ten point three nine percent at the end of the second
01:01quarter court auctions nationwide reached two hundred sixty three thousand eighteen cases through september close to the 2009 financial crisis
01:09peak but in seoul auction winners in districts like now
01:12and dobong are bidding well above appraised value lending rules have reduced the risk of forced sales according to professor
01:19shin bo yun of sejong university still the government's 2028 supply recovery timeline may not hold
01:25sole apartment move-in volume is projected to fall to roughly 15 000 units in 2028 a trough experts expect
01:33the new supply to take three to four years to materialize so what does this mean for buyers weighing a
01:38purchase this year
01:39for first-time buyers and end users the window is about entry price not timing the bottom outer district apartments
01:46with real rental demand are holding up while high-priced rebuilding complexes face tougher lending limits earlier we said that
01:53the market is splitting here's what that actually means for you location and financing capacity now matter more than the
01:59headline price trend the government's own review of tax reform including the shift toward property value based holding taxes could
02:06push some older homeowners to sell which may add
02:09supply at the margin before committing before committing check the loan limits the total holding cost and whether the neighborhood
02:15has rental demand to back your exit that's today's ai prism real estate this episode was produced with ai assistance
02:22based on sole economic daily reporting ai prism is a juan ifra award-winning series we'll be back tomorrow
02:31we'll be back to you tomorrow
