If you look closely at the real estate auction,
But there's a "true" to it.
bid rate is the lowest in three years
Gangnam Apartment, 400 million won cheaper than the market price.
Lower the appraised value by 500 million won after bidding.
Gyeonggi and Incheon also fell one after another.
Seocho-gu and Songpa-gu Public Offices
The lowest bidding price is coming out one after another.
appraised value is usually set six months in advance
Attention to the "time lag" in the period of falling market prices
The price attractiveness of the products that come out in the future.
The winning bid rate of 85.9% is the lowest in about three years since 84.8% in September 2019.The average number of bidders also stood at 5.6 for the fourth consecutive month since eight in April.In August, the bidding price rate for apartments in Seoul also reached 93.7%, the lowest level this year.However, the winning bid rate and the average number of bidders increased compared to the previous month.The winning bid rate for apartments in Seoul stood at 36.5 percent last month, up 9.9 percentage points from 26.6 percent the previous month.The average number of bidders also stood at 5.9, up 2.9 from the previous month's three.Jiji Auction explained, "Some of the apartments that have been auctioned more than once showed high competition rates, but the winning bid rate is on the decline due to the contraction of the sales market and interest burden caused by interest rate hikes."
In fact, expensive apartments in Gangnam, Seoul, are also not attracting much attention in the auction market.During the rise in the real estate market, competition was fierce because expensive apartments were valuable in themselves, but more and more cases have recently been bidding.
According to the Seoul Central District Court, no one participated in the bidding for the two I-Park Samsung households located in Gangnam-gu, Seoul, at the end of last month.The appraised value of 157 square meters and 145 square meters of the apartment was set at 5.17 billion won and 5 billion won, respectively.The price was hundreds of millions of won lower than the recent asking price, but it failed to attract consumers' attention.
The 173㎡ exclusive area of Daelim Acroville, located in Dogok-dong, Gangnam-gu, was also auctioned off on the 17th of last month.The appraised price was 2.88 billion won, which was about 400 million won cheaper than the market price, but the auction will be held again by lowering the minimum bidding price to 2.34 billion won because no one showed interest.Seocho and Songpa-gu are also showing similar trends.
The Seoul metropolitan auction market is also on the decline.Last month, the bidding price of apartments in Gyeonggi-do was 82.9%, down 9.7 percentage points from 92.6 percent the previous month.The 82.9% bid rate is the lowest in eight years since 82.2% in January 2014.
Incheon recorded a winning bid of 78 percent, down 11.1 percentage points from 89.1 percent the previous month.Last month was the first time this year that the winning bid rate for an apartment in Incheon has entered the 70% range.
Lee Joo-hyun, a senior researcher at Jiji Auction, said, "Apartments with a small loan burden of less than 300 million won are still strong, but the bid price rate for expensive apartments exceeding 900 million won is showing a sharp decline."
Apart from the market situation, some analysts say that consumers who plan their own house should still show interest in the auction market.An official from the real estate industry said, "The items in the auction market are usually priced months ago," adding, "As there is a time difference between the market price a few months ago and the current market price, we need to pay attention to what will come out in the future."
According to Jiji Auction, there are still notable auction items in the Seoul metropolitan area.The auction will be held on the 21st of Sadang Xi 106, located in Sadang-dong, Dongjak-gu, Seoul.With a dedicated area of 60 square meters, the item consists of three rooms and one bathroom.Completed in 1999, the complex covers 719 households in nine buildings.
The initial appraised value of the item was set at 850 million won.The bidding price was lowered to 680 million won after one bid.The complex is located southeast of Sangdo Middle School.Nearby are apartment complexes, detached houses, and various neighborhood living facilities.Jiji Auction said, "It is an item that many people pay attention to in that it is an apartment worth 600 million won in central Seoul."
It is also convenient to use public transportation.Namseong Station on Seoul Subway Line 7 was located within walking distance.If you use major roads such as Sadang-ro, it is evaluated that access to other areas is also good.A certain size of commercial district is formed near Namseong Station, making it convenient to use commercial and convenient facilities.Nearby educational institutions include Sangdo Middle School, Shinnamseong Elementary School, Bonghyeon Elementary School, Bongwon Middle School, and Dongjak High School.
Room 1004, 722-dong, Mokdong New Town Apartment located in Yangcheon-gu, Seoul, will be auctioned on the 20th.It was completed in November 1986 and is a large complex of 2550 households in 34 buildings.This object with a dedicated area of 101㎡ has a terraced structure with four rooms and two bathrooms.The first bidding will be held at the initial appraised price of 2.62 billion won.Jiji Auction explained, "It can give a high score in that it is a large apartment complex," adding, "The living conditions are good because infrastructure suitable for the large complex is also formed."The complex is located near the northeast of Mokdong Station on Seoul Subway Line 5, making it easy to use Line 5.Omokgyo Station on Line 5 is also nearby.Large commercial districts are formed around Mokdong Station, making it easy to use large shopping malls such as Hyundai Department Store and cultural facilities such as CGV.Nearby educational institutions include Mokun Middle School and Jinmyeong Girls' High School, Yeongdo Elementary School, Sinmok Middle School, and Gangseo High School.
Room 402, 112-dong, Daelim Hansup Town, located in Susaek-dong, Eunpyeong-gu, Seoul, will be auctioned on the 20th.The initial appraised price was set at 723 million won, and a bid will be held at 578.4 million won in one bid.
Completed in 2003, the complex covers 976 households.The area dedicated to auction items is 60 square meters.Jiji Auction said, "Although it is outside of Seoul, convenient transportation and a price of 500 million won are attractive items."There are Susaek Station and Jeungsan Station nearby, so you can use Gyeongui Jungang Line and Seoul Subway Line 6.
[Reporter JUNG SEOK HWAN]
[Maeil Economy & mk.co.kr]
