Number of home ownership transfers may contract at a slower rate in 2024, thanks to measures aimed at boosting the housing market (Current Issue No.3482)

• The government’s measures, aimed at stimulating the real estate sector, will likely help reinvigorate the housing market.
• However, consumers' decisions to purchase residential properties still depend on their confidence towards the economic recovery, their financial position, the location and style of properties, and loan approval conditions for each buyer.
• KResearch views that the number of home ownership transfers for 9M24 may reach approximately 279,000, a contraction of 1 percent YoY, due to such stimulus measures. For 2024, the number of home ownership transfers is projected to shrink only 1.6 percent, bettering the contraction of around 3.6 percent projected previously when no stimulus measures for the housing market were taken into account.