First-Time Buyers of Multi-Unit Properties in Seoul Hit Multi-Year High in July

[Economy 365]

Last month, the number of first-time buyers purchasing multi-unit properties in Seoul—including apartments, row houses, and officetels—reached its highest level since November 2021.

According to an analysis of Supreme Court registry data by real estate information platform Zigbang, first-time purchases reached 7,547 units as of the 12th of last month, marking a 4.7% increase from the previous month.

Purchases by those in their 20s and 30s saw a notable increase.

Buyers in their 20s accounted for 887 units, or 11.8% of the total, while those in their 30s recorded 4,300 units, pushing their share up to 57%.

By district, Eunpyeong District recorded the highest number with 841 units, accounting for 11.1% of the total, followed by Nowon District and Gangseo District.

Analysts suggest that relatively relaxed lending standards and a shortage of jeonse (lump-sum housing deposit lease) properties may have influenced purchases by young, genuine homebuyers.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.