Despite the government's high-intensity loan regulations, 'asset switching' (buying houses by utilizing financial assets such as existing real estate and virtual assets) is spreading in Seoul, Maeil Business Newspaper exclusively reported. According to an analysis of housing acquisition fund procurement plans from 17 cities and provinces nationwide, submitted by the Ministry of Land, Infrastructure and Transport to the office of Rep. Kim Jong-yang of the People Power Party, the proportion of proceeds from the sale of stocks, bonds, and cryptocurrencies among the housing purchase funds of individual buyers in Seoul from January to May this year jumped from 2.9% in 2021 to 7.6%, and gifted/inherited funds also expanded from 3.8% to 6.4%. While the proportion of real estate disposal proceeds recorded 32.6%, the proportion of financial institution loans was 22.7%, showing no significant change in recent years.
