With Average Prices at 1.6 Billion Won, "Even Now!"... FOMO Grips the 2030 Generation

As housing prices rise rapidly, the fear of missing out, or "FOMO," is reemerging among the twenty- and thirtysomething demographic in the real estate market.

According to an analysis of data from the Supreme Court Registry by real estate transaction platform Zigbang, first-time buyers of collective buildings in Seoul reached approximately 7,500 cases last July, the highest number since November 2021.

This represents a 4.7% increase from the previous month. Among these buyers, purchases by those in their 30s rose from 3,979 to 4,300 cases, while purchases by those in their 20s increased from 765 to 887 cases.

The proportion of buyers in their 20s and 30s accounted for 68.8% of the total.

Recently, the average trading price of apartments in Seoul surpassed 1.6 billion won for the first time, coming in at 1,607,390,000 won. This trend appears to be the result of anxiety among younger generations that they might fall behind in asset price appreciation if they do not buy now.

In the stock market, increased volatility has led to a surge in "forced liquidations," where securities firms forcibly sell off clients' holdings when investors fail to cover unpaid margin amounts by the settlement date. This is interpreted as a sign of rising high-risk investments seeking quick, high returns.

According to the Korea Financial Investment Association, the amount of forced liquidations relative to brokerage margin receivables reached 1,122.8 billion won last June, surging by nearly 60% compared to 707.6 billion won in May. This marks the first time this year that the monthly figure has exceeded 1 trillion won.

An official in the financial investment industry noted, "Young people jumped into the stock market trusting the government's commitment to bolstering the stock market, but they have been left exposed directly to sudden volatility and high-risk leveraged products. The anxiety of falling behind regardless of whether they choose stocks or real estate is intensifying their sense of relative deprivation."

Reported by Kim Taewon | Video by Seo Byeong-wook | Graphics by Lee Jeong-ju | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.