An apartment complex in Seoul. (Image courtesy of Yonhap)
SEOUL, Oct. 10 (Korea Bizwire) – The share of gifted properties in the housing transaction market continues to decline. According to housing transaction statistics compiled by the Korea Real Estate Board on Sunday, the nationwide share of gifted properties in housing transactions was 6.8 percent in August, the lowest since June 2020 when the figure was 5.15 percent.
In Seoul, this share dropped to 7.03 percent in August after surging to 36.4 percent at the end of last year. The August figure was the second lowest of the year after 6.98 percent in April.
For Gyeonggi Province, the share of gifted properties in housing transactions was 4.5 percent in August, the lowest since June 2020 when it was 3.4 percent.
In Incheon, the proportion of gifted properties slid to 4.4 percent in August, the lowest since January 2021 (2.9 percent), while in the southern port city of Busan, the share of gifted properties in Busan fell to 6 percent, the lowest since July 2021 (5.3 percent).
The share of gifted apartments also declined nationwide. The proportion of gifted apartments stood at 4.2 percent in August, the lowest since June 2020 (3.9 percent).
In Seoul, the share of gifted apartments was 6.1 percent in August, up from 5.3 percent the previous month but significantly lower than the 29.9 percent at the end of last year.
J. S. Shin (js_shin@koreabizwire.com)
