Fewer Seoul Citizens Hope to Buy Home in 2022

  • By Jin Joong-eon

    December 28, 2021 08:35

    Fewer people in Seoul hope to buy their own home next year after apartment prices spiraled out of reach.

    Real estate app Zigbang polled 2,042 users on Sunday, and 64.1 percent said they plan to buy a home in 2022, down from 69.1 percent last year.

    /Newsis

    Most or 69.8 percent of respondents who plan to buy a home in the capital live outside Seoul at the moment.

    Asked for their reasons, 39.1 percent said they want to stop living in rented accommodation, 18.4 percent want to move to another neighborhood, 15.7 percent want to move to a bigger or smaller home, 12.8 percent want a home for their growing family and 9.7 percent hope to profit from rising property values.

    Ham Young-jin at Zigbang said, "Interest rate hikes and tighter loan regulations are expected to continue next year, so more people are taking a wait-and-see attitude."

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