AFTERMATH OF FRAUD BUSAN VILLA AND OFFICETEL CHARTER TRANSACTION VOLUME 'CUT IN HALF'

Aftermath of fraud Busan villa and officetel charter transaction volume 'cut in half'

Aftermath of fraud Busan villa and officetel charter transaction volume 'cut in half'

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“After the charter scam broke out, there was almost no charter transaction for villas or officetels.”

On the 10th, Mr. A, the representative of an authorized brokerage in Yangjeong-dong, Busanjin-gu, Busan, said while looking at the transaction list file. Mr. A makes and organizes a trade list every year, but he did not make a file because there were almost no trades this year. Five real estate properties in the vicinity also found it difficult to find customers and were virtually closed. Some places were completely closed and closed, creating a chilly atmosphere. Mr. A said, “After the charter scam broke out, the anxiety mentality worked, and transactions in officetels and villas, especially with a lot of charter, were almost cut off.”

It was found that the charter transaction volume of officetels and villas in the Busan area dropped sharply compared to the same period last year. In particular, there are concerns that some areas in Busan, where charter fraud occurred one after another, will become areas that tenants avoid.

Mr. A said, “Some real estate agents and brokerage assistants recklessly deceive young people by saying that they are safe for sale without proper explanation and cause damage, and many real estate agents are suffering damage.” But I am afraid that it will become an area to avoid living in.”

According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system on the 10th, the number of charter transactions for multi-family and townhouses in Busan in April this year was 262 (based on the contract date), down by more than half compared to 537 in April last year. The situation is similar for officetel transaction volume, which is highly preferred by people in their 20s and 30s because the jeonse price is relatively cheaper than that of apartments. In April of this year, the officetel charter transaction volume in Busan was 385, a 38.5% drop compared to the same period last year (627).

In particular, in the case of Busanjin-gu, which has the largest volume 오피뷰 of officetel jeonse and monthly rent transactions in Busan, as of April this year, the officetel jeonse transaction volume was 63 cases, a decrease of about 60% compared to last year's 171 cases. The number of multi-household and row house jeonse transactions in Busanjin-gu was also 31 cases, which is half get more info compared to the 65 cases in the same month of the previous year. Compared to the decrease in the total number of multi-family, townhouses and officetel charter transactions in Busan during the same period, the decrease is large.

The industry cites anxiety over a series of charter scams as one of the reasons for the recent decline in rental transaction volume of villas or officetels in Busan. Usually, villa and officetel jeonse and monthly rental transactions are most active in the first quarter for reasons such as before the start of university or going to work for a new job, and the off-season begins in April. Even considering this period, the charter transaction volume decreased significantly compared to the same period last year. In particular, in the case of Busanjin-gu, where the proportion of young people living is high and charter scams have erupted one after another since February of this year, the jeonse transaction market seems to have shrunk due to the anxiety of tenants.

University student Kim Mo (25), who has to find a new house to live in two months from now, is also in a difficult situation. Mr. Kim said, "I don't know where to move my residence because I'm reluctant to go to an area where charter scams keep popping up."

Choi Ji-hyo, president of the Busanjin-gu branch of the Korea Realtors Association, said, “We are in a situation where even normal sales are not possible. “We are making sure that mediation is carried out meticulously, such as analyzing the rights relationship and explaining the checklist to be checked during charter transactions,” he said.

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