”Contract for 2 billion won house without seeing it”... ”No questions asked purchase” continues in Korea

Mr. A, a company employee in his 40s who had been looking for an apartment in the Gangnam area and had prepared 2 billion won (approximately 213.87 million yen) recently, said he had found a property in Bangbae-dong, Seocho-gu that fit his budget.
I was contacted by a real estate agent. However, the agent said, "There is a lot of demand, so we don't have time to look around. We want you to make a decision quickly." So I didn't have time to think about it for long and signed a sales contract without seeing the apartment in person.
According to industry sources on the 24th, the upward trend in apartment prices, which started in the three Gangnam districts (Gangnam-gu, Seocho-gu, Songpa-gu) and Yongsan-gu, has recently spread rapidly throughout Seoul.
A trend of "no questions asked" has even emerged in the real estate market. A real estate agent said, "In the 3rd district of Gangnam, the asking price has recently been increased by 200 to 300 million won.
It is difficult to find a property, and because there are only a few properties available, multiple potential buyers gather at the same time on weekends to view properties. "The buying interest is spreading from Mapo and Seongdong-gu to neighboring areas recently," he said.
"The problem has spread to Dongjak, Seodaemun and Dongdaemun districts, which are close to each other, and in the housing complexes around Sangil-dong in Gangdong district, asking prices have skyrocketed and there are many cases of properties being bought and sold without even being seen."
Even in areas where price increases have not yet been clearly seen, there appears to be a serious shortage of properties for sale.
In Seo-gu, there is a movement towards relocation due to the recent rise in apartment prices, but as prices are rising throughout Seoul, many people are unable to decide on their next residence and are repurchasing properties that they had put on sale.
It is analyzed that the recent momentum of apartment price increases has led to a noticeable property shortage.
According to the weekly apartment price trend for the third week of June recently announced by the Korea Real Estate Institute, the weekly
Apartment sales prices rose by a whopping 0.36% compared to the previous week. This is the largest increase in about six years and nine months since the second week of September 2018 (0.45% as of the 10th). The Korea Real Estate Institute said,
The upward trend continues throughout Seoul, with asking prices for popular properties in complexes and large-scale complexes undergoing reconstruction rising, inquiries about purchasing increasing, and actual increases in prices being confirmed.
The number of apartments for sale in Seoul is rapidly decreasing. According to the real estate big data platform "Asil," the number of apartments for sale in Seoul, which was around 90,000 at the beginning of the year, has fallen to just 10,000 this month.
The number of cases has since fallen to the 70,000 range. The number of cases has fluctuated since it fell to the 70,000 range (78,810 cases) on the 9th of this month, the first time in nine months since September 19th of last year (79,093 cases).
The number of new cases fell to 77,802.