00:00before you sign anything in korea's property market the numbers just changed it's wednesday november 11th let's look at what's
00:07happening in korea's property market seoul's core housing market is splitting in two premium apartments are under pressure while large
00:14complexes in some areas are holding steady
00:16government rules tax reform and lending limits are all reshaping who can afford to buy here's what the numbers show
00:23the kb leading apartment 50 index saw its combined market cap fall 2.7 trillion one between august and october
00:30that's only a 0.54 percent drop but yunma apartment in daichidong alone lost more than 1 trillion one a
00:376.53 percent decline 19 of the 50 complexes declined 16 rose seven of the biggest decliners are redevelopment targets
00:46in gangnam meanwhile heliocity and garrick dong gained 230 billion one seoul's cheaper suburbs are also tilting in a different
00:54direction yungi apartments are seeing demand for mid-sized units around 84 square meters in seoul buyers are shifting toward
01:01units under 60 square meters which now make up 47.2 percent of third quarter transactions the price gap is
01:08the core reason in seoul moving from a small apartment to a mid-sized one costs roughly 440 million one
01:15more
01:15in gyeonggi the gap is about 150 million one that's nearly three times larger in seoul so what does this
01:22mean for buyers weighing a purchase this year earlier we said the top apartments are falling while large complexes hold
01:28up here's what that actually means for you if you're buying in gangnam redevelopment zones the risk is real and
01:34the price can still move lower if you're looking at large newer complexes or gyeonggi mid-sized units the market
01:40is far more stable if you're looking at large newer complexes or gyeonggi mid-sized units
01:45the market is far more stable what to watch watch the government's tax reform package closely the proposed reductions in
01:52comprehensive property tax for owner occupiers and the rules for redevelopment could shift these trends again don't rush check the
02:00terms the tax impact and your loan limit before you sign that's today's ai prism real estate this episode was
02:07produced with ai assistance based on seoul economic daily reporting
02:10ai prism is a juan ifra award-winning series we'll be back tomorrow
