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2019-12-24
Real Estate Weekly:Mortgage growth solid in April

威廉希尔体育app下载 ,Real Estate Weekly:Mortgage growth solid in April。Housing transactions in April down 2.5% m-m and 12.7% y-y: The Ministry ofLand, Infrastructure, and Transport said that in April 75,381housing units changedhands nationwide, down 2.5% m-m as the spring moving season drew to a close. Volumewas also down 12.7% y-y and 15.7% below the 89,000five-year average for April asprospective buyers opted to wait until after the May presidential election to better gaugeloan regulations and other housing market uncertainties. We expect transactions toincrease m-m in May.

    Mortgage balance in April up KRW3.3t m-m to KRW541.8t: Korea’s mortgagebalance at end-April was up KRW3.3t m-m to KRW541.8t, according to Bank of Koreadata released May 15. The net m-m increase was steeper than January’s KRW0.8t,February’s KRW2.1t, and March’s KRW2.6t. The BOK attributed the increased growth tothe spring moving season and interim payments on collective loans on apartmentspresold before 2017(tighter regulations took effect from 2017). We expect mortgagegrowth to stay solid, as: 1) the election of a new president has reduced uncertainty, andshould bring buyers back to the market; 2) interim payments on collective loans onapartments presold before 2017should continue to flow in; and 3) presales postponeduntil after election should now proceed.

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