“There is no sale that is cheaper than the sale price”… Officetel's endless fall

Officetels are hardly getting out of the Aemul complex. It was once popular as an alternative to apartments, but this is because housing demand is turning to apartments as the government's massive real estate deregulation and interest rate hikes have stopped.

According to the results of Real Today's analysis of the Korea Real Estate Agency subscription home data on the 7th, a total of 2277 officetels were supplied until May 18 this year. This is the lowest since 2020, when related statistics began to be compiled.

As of January to May every year, the supply of officetels (8162 cases in 2020 → 7669 cases in 2021 → 6139 cases in 2022) is on the decline. In particular, this year, it has plummeted to one-third of the same period last year.

Subscriptions are also being turned away from consumers. This year (January to May), the average subscription competition rate for officetels nationwide is 4 to 1, which is also the lowest since 2020 when related information was released.

The average officetel subscription competition rate recorded 25.2 to 1 in 2020 with more than 20,000 subscriptions for 8,000 rooms, then decreased to 4.8 to 1 in 2021 and rebounded to 13.8 to 1 last year. This is due to the fact that subscription demand has flocked to officetels instead of soaring apartments. Then, this year, it plummeted to 4-1.

Half (6) of the 12 officetel complexes that applied for subscriptions this year did not exceed the subscription competition rate of 1 to 1 and fell short. Demand for subscriptions was concentrated in complexes where the pre-sale price was lower than the surrounding market price or the housing conditions were good.

Experts point to interest rate hikes as the main cause of the officetel market downturn. Rising interest rates have dampened investment demand. In addition, it is believed that the shift in housing demand to apartments due to the government's massive deregulation has had a significant impact.

In the case of officetels, the DSR regulation has been applied since last year. 달림사이트 It was also excluded from the 'Special Bogeumjari Loan', which allows loans without DSR regulation. This is because it is subject to the Building Act, not the Housing Act.

As a result, the market is also in a downtrend. According to KB Real Estate data, the average sales price of officetels nationwide in April was 263.84 million won, which has been on a downward trend for 8 consecutive months since August last year (273.69 million won).

For example, in the case of E Officetel near Gyodae Station on Subway Line 3, a sale was made for which a 10% deposit, which was 10% of the sale price, was given up. In the exclusive 33㎡, the asking price fell as a here mapi (minus premium) was attached up to 100 million won.

The 54㎡ exclusive for Jamsil Prugio Ballad officetel in Bangi-dong, Songpa-gu was priced at 1.35 billion won, which is 150 million won lower than the pre-sale price.

The downward adjustment in officetel prices is expected to continue for the time being. This is because demand for officetels is turning to apartments due to the continued high interest rate trend and the easing of government regulations.

Jeong Seong-jin, CEO of Buttaengtok, said, “Revenue-type real estate has a high proportion of loans, so it is inevitably affected by a steep increase in interest rates.”

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