In Seoul, 49% of property ownership transfers last month were conducted by donors in their 50s and 60s, compared to 43% of those aged 70 and above, according to an analysis by property technology company Zigbang based on official data, as reported by The Chosun Daily.

Compared with the previous month, the proportion of donors aged 70 and above declined by 6.3 percentage points, while shares for those in their 50s and 60s rose by 2.8 and 4 percentage points, respectively.

In Gyeonggi Province, donors in their 50s and 60s accounted for a combined 47.4%, surpassing the 41.2% share of those aged 70 and above.

In regional areas, however, donors aged 70 and above continued to dominate. In February, North Jeolla Province recorded the highest share at 78.1%, followed by South Jeolla Province at 55.9%.

The shift is attributed to the challenges faced by individuals in their 20s and 30s in purchasing homes in the capital region using personal funds and loans alone.

Housing authorities this week said that prices of apartments in Seoul jumped 18.67% last year, the highest increase in five years, and much higher than the average yearly rise of 9.16%, according to The Korea Times.

Surging prices have discouraged many buyers. The nationwide housing sales market consumer sentiment index fell 9.8 points from January to 112.3 in February, shifting to a neutral phase, as reported by Seoul Economic Daily.

Analysts also attributed the lower sentiment to the government’s plan for additional property regulations, including the announcement of the termination of capital gains tax relief for multi-home owners.

For these reasons, parents owning two or more properties are increasingly choosing early transfers to support their children’s housing stability.

As the government is set to hike taxes on non-residential home ownership, the trend toward earlier gifting among parents is expected to accelerate further.

Kim Eun-sun, head of Zigbang’s Big Data Lab, said, “In areas with high housing prices, such as Gangnam, the trend of early gifts aimed at reducing tax burdens is increasing as people judge that the possibility of further price increases is high.”

“Since it is difficult for children to secure housing on their own in these areas, the demand for early gifts is expected to continue for the time being,” she added.