Proven Panic Buying... Half of Apartments in Seongdong-gu in June Were Purchased by Buyers Aged 30 or Younger

Zigbang "Apartment Purchase Areas Differ According to Characteristics of People in Their 30s"

[Asia Economy Reporter Onyu Lim] In June of this year, more than half of the apartment sales in Seongdong-gu and Jung-gu, Seoul, were transactions by individuals aged 30 or younger.

On the 17th, Zigbang analyzed the proportion of apartment sales by age group in Seoul using data from the Korea Real Estate Board. Among the 25 districts in Seoul, Seongdong-gu had the highest proportion of apartment sales by those aged 30 or younger in June, accounting for 52.9% of all transactions. Jung-gu also recorded a 52.0% share of transactions by this age group. This means that more than half of the apartment transactions in these two districts were made by people aged 30 or younger.

Other districts with a high proportion of apartment transactions by those aged 30 or younger included Gangseo-gu (46.5%), Yeongdeungpo-gu (45.2%), and Guro-gu (42.1%).

Across all of Seoul in June, the highest proportion of apartment sales by age group was among those aged 30 or younger at 36.1%. This was followed by those in their 40s at 27.8%, those in their 50s at 18.8%, and those aged 60 and above at 15.3%. Despite rising apartment prices, it is analyzed that many in their 30s, who have low subscription scores, rushed to purchase apartments out of fear that they would not be able to secure one if they did not act now.

A representative from Zigbang Big Data Lab explained, "The proportion of apartment purchases by those aged 30 or younger in Seongdong-gu has maintained above 40% since this year. Seongdong-gu has good accessibility to business areas such as Euljiro and Gangnam, and residential environment improvements are underway, which keeps the purchase proportion by those aged 30 or younger steadily high."