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30-somethings major apartment buyers in Seoul

A visitor to a showroom for a new apartment complex looks at miniature apartments. (Yonhap)
A visitor to a showroom for a new apartment complex looks at miniature apartments. (Yonhap)



Property buyers in their 30s were the biggest players in the apartment market in Seoul in the last two months of last year, according to a report Wednesday.

Of the entire 10,491 transactions of apartment units registered in January in the city, those aged 30-39 accounted for 30.4 percent, or 3,188 transactions, according to a report released by the Ministry of Land, Infrastructure and Transportation and the Korea Appraisal Board.

Since transactions are reported to district offices within 60 days upon signing purchase contracts, most of the transactions are collated in the report.

The proportion is higher than the figure for those in their 40s -- at 28.9 percent, or 3,033 property transactions. Those in their 40s, who are usually more deep-pocketed than the younger age group, used to be major players in the property market, especially in Seoul.

The January figure for the 30-something home buyers is up from 28.5 percent reported by the same age group in December.

Business or industrial districts were popular among those in their 30s, who are often from double-income families, according to the report. They made up 37.2 percent of the total transactions in Yondeungpo-gu, 32.2 percent in Dongjak-gu, and 32.1 percent in Guro-gu.

On the other hand, posh districts, including Gangnam-gu, Seocho-gu and Songpa-gu, and three districts in northern Seoul -- Nowon-gu, Dobong-gu, and Gangbuk-gu -- were preferred by those in their 40s.

In some districts of Suwon, Uiwang and Anyang cities, all of which are in Gyeonggi Province, those in their 40s more actively bought apartments than 30-somethings in the November-December period.

Among the entire property buyers in Suwon, for example, people in the 40-49 age bracket made up 26.1 percent, followed by the 30-39 age group and the 50-59 age group, which respectively marked 25.3 percent and 19.8 percent.

As part of its efforts to combat soaring apartment prices in the Gyeonggi region, the ministry implemented tighter regulations, including limits on loans, on Feb. 20, in Yeongtong, Gwonseon and Jangan districts in Suwon; Manan in Anyang; and Uiwang City.

By Kim Young-won (wone0102@heradlcorp.com)
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