00:00Before you sign anything in Korea's property market, the numbers just changed.
00:04Trading volume in Seoul's Han River Belt fell sharply this quarter,
00:08and the slowdown is spreading outward.
00:10It's Tuesday, October 27th.
00:12Let's look at what's happening in Korea's property market.
00:15Lending rules, higher interest rates, and a sharp run-up in prices have pushed buyers to the sidelines.
00:20Trading in Sungdonggu fell 75.6% year-on-year in the third quarter.
00:25Guangzhou fell 62.1%, and Mapogu dropped 59.7%.
00:31Here's what the numbers show.
00:32The downturn began in the Gangnam area, then moved into the Han River Belt.
00:37Gangnam's three districts recorded a 34.8% drop, a smaller decline than the riverside districts.
00:43Meanwhile, listings have piled up.
00:45Sungdonggu inventory is up 140% since January, the largest increase in Seoul.
00:51Outer districts such as Dobonggu saw trading rise 51.7%.
00:55Driven by buyers priced out of the Gents market.
00:57Analysts at NH Nonghai Bank expect the slowdown could reach northern and southwestern districts
01:02as early as the first half of next year.
01:05Still, limited new supply and an ongoing Gents shortage make a sharp price collapse unlikely.
01:10So what does this mean for buyers weighing a purchase this year?
01:13Pay attention to your loan limit.
01:14A small shift in DSR or LTV rules can change how much you can borrow.
01:19For buyers, that means more listings, more negotiating room, and a need to watch whether
01:23the outer districts follow the same path.
01:25That's today's AI Prism, real estate.
01:28This episode was produced with AI assistance based on Seoul Economic Daily reporting.
01:33AI Prism is a Juan Ifra award-winning series.
01:36We'll be back tomorrow.
