[Jiptech] For the 2030 Generation, Marriage Is Optional but Homeownership Is Essential

Editor's NoteOver 70% of the assets held by South Korean citizens are tied up in real estate. A home is our most important asset, as well as our closest and most comfortable place. While living bound to our homes, we provide you with the information needed to buy and sell property. In collaboration with Kim Hyosun, Chief Real Estate Specialist at NH Nonghyup Bank, Asia Economy publishes [Jiptech] every three weeks to equip you with essential knowledge.

Marriage and childbirth are increasingly being delayed. However, the age at which people purchase homes is moving in the opposite direction. Last year, the crude marriage rate?which refers to the number of marriages per 1,000 people?was 4.4, slightly higher than in 2022 (3.7) and 2023 (3.8). Nevertheless, the long-term downward trend continues. Although the total fertility rate rebounded slightly to 0.75 last year, the country is still facing a severe low birthrate crisis.

The age at which people buy homes is decreasing. Despite the triple challenges of high interest rates, instability in the jeonse rental market, and distrust in the housing lottery system, the proportion of home purchases by those in their 30s and younger is rising. According to age-based apartment purchase statistics from the Ministry of Land, Infrastructure and Transport, the nationwide average share of purchases by people in their 30s and younger over the past six months (from November 2024 to April 2025) was 30.5%, and 35.1% in Seoul. This is a rebound from 27% nationwide and 29% in Seoul in the fourth quarter of 2022.

In the past, people considered buying a home after marriage, but now, purchasing a home comes before marriage. Notably, this shift is not driven by short-term investment, but by a strategic focus on actual residence. In major districts of Seoul and mid-to-upper tier locations in the metropolitan area, the proportion of purchases by those in their 30s and younger repeatedly exceeds 40%. Even in high-priced areas such as the three Gangnam districts, the share remains around 20%.

Why are younger generations choosing to buy homes before getting married or having children? The first reason is the increased burden of housing costs as the transition to monthly rentals accelerates. Young people perceive homeownership as a way to stabilize living expenses, preferring it over uncertain and unstable rental contracts. Another reason is the desire to proactively respond to interest rate cycles. While the base interest rate remains at a mid-to-high level, market rates have begun to stabilize downward. With the possibility of further rate cuts in mind, many are adopting a 'buy first, fix later' strategy.

There is also structural distrust in the housing lottery system. Higher point cutoffs, hurdles related to income and asset requirements, and the financial burden after winning a lottery make the system an unrealistic means of homeownership. Additionally, a sense of urgency?that this may be the only chance to buy a home in their lifetime?is fueling defensive purchases. Considering the structural reality that housing instability is a major barrier to marriage and childbirth, this proactive buying could actually serve as an opportunity to increase marriage and birth rates.

For these reasons, young buyers are flocking to areas where residential and asset values intersect, such as well-developed urban centers, planned redevelopment sites, and regions benefiting from improved transportation. This is a more advanced choice than simply 'living' or 'investing'?they are strategically selecting a home to settle down in, surpassing the choices of previous generations.

Rather than asking, 'Why aren't young people getting married these days?' we should focus on 'Why are they trying to buy homes?' The trend of early homeownership among younger generations is not simply a product of optimism about the housing market, but a structural demand for effective government policy. If this signal is not accurately understood, and if appropriate support for genuine demand is missed, society will fail to respond swiftly to structural changes. This is not the starting point of a market recovery, but rather an inflection point for the restoration of trust.

Kim Hyosun, Chief Real Estate Specialist, NH Nonghyup Bank