How to ‘buy my own home’ in Seoul?… Must pay 41% of monthly income

It was found that in order to buy your own home in Seoul, you need to spend more than 40% of your income on repaying the principal and interest of the mortgage loan.

They say it’s better than last year, but of course, that doesn’t mean anyone will feel that buying their own home is easy.

Reporter Hwang Gyeong-ju reports.

[Report]

Korea Housing Finance Corporation announced that Seoul’s housing purchase burden index in the second quarter was 165.2.

The housing purchase burden index is an index that shows how much the loan repayment burden is when a middle-income household buys a middle-priced house with a standard loan.

If the index is 100, it means that about 25% of your income is being used to repay loan principal and interest, and if this number is greater than 100, it means that the burden is greater.

Geumgong explained that Seoul’s second quarter figure of 165먹튀검증 means that the average person trying to buy an average house in Seoul would have to spend about 41% of their income on mortgage repayment.

Although the burden of purchasing a home is this large, it has decreased significantly compared to the third quarter of last year.

This is because in the third quarter of last year, it hit an all-time high of 214 and had to spend more than 53% of its income on principal and interest repayment.

This can be interpreted as the fact that real estate prices have fallen since then, and

mortgage interest rates also peaked and fell in the second quarter.

However, interest rates are rising again due to concerns about prolonged austerity in the United States, and housing prices have also stopped falling, so the burden may increase again in the future.

It was found that after Seoul, the burden of purchasing a home in Sejong was the largest.

Sejong’s housing purchase burden index in the second quarter was 100.3, exceeding 100.

However, like in Seoul, the burden has been decreasing since the third quarter of last year.

Nationwide, the housing purchase burden index was 68, recording a downward trend for three consecutive quarters, and except for Seoul and Sejong, there was no place where the index exceeded 100 and the burden of principal and interest repayment exceeded 25% of income.