June Land Transaction Permit Prices Rise 2.6%... Highest Since October 15 Measures

[Anchor]

Last month, the growth rate of apartment land transaction permit application prices in Seoul reached its highest level since the announcement of the October 15 housing market stabilization measures last year. This is interpreted as a result of properties being traded at existing asking prices following a series of urgent sales ahead of the end of the grace period for capital gains tax on multi-homeowners in May.

Reporter Yun Nara delivers this week's news from Seoul.

[Reporter]

The total price of land transaction permit applications in Seoul last month rose by 2.67% compared to the previous month, May.

This marks the highest monthly increase since the real estate measures in October of last year.

The Seoul Metropolitan Government analyzed that this was due to continued buying demand centered on actual residents, who maintained existing asking prices after the transaction of urgent properties aimed at tax savings ahead of the end of the capital gains tax grace period for multi-homeowners in May.

The number of new land transaction permit applications for Seoul apartments in June was 5,382, a 39.7% decrease compared to April, which saw the highest number of applications this year.

This is attributed to a decrease in temporary, concentrated application demand ahead of the end of the capital gains tax grace period, as well as market participants adopting a wait-and-see approach ahead of tax reforms in July.

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Gangseo-gu, Seoul, is accepting participants for the 4th Gangseo Heojun Run, which will be held on October 10.

The Heojun Run, which features a course through the Seoul Botanic Park and along the Han River, began in 2023 and has attracted over 2,000 participants every year.

There are three race courses: the 3km Family Run, designed for families to create memories; the 5km course for those who want to enjoy a light run; and the 10km course for participants looking to challenge their personal records.

Applications can be submitted through the official Heojun Run website, and the Heojun Festival, featuring traditional Korean medicine experiences and performances, will follow after the race.

Gangseo-gu District Mayor Jin Kyo-hoon said, "I hope this becomes more than just a marathon, but a running festival where families, couples, and friends can create memories together."

(Video Editing: Jung Yong-hwa)
※ Please note: This article was translated by AI and may contain errors.