A recent report reveals that 70% of individuals who sold cryptocurrency to fund their home purchases are in their 30s. This trend follows the government's introduction of a separate category for cryptocurrency sales in housing financing plans, confirming the influx of virtual asset profits into the real estate market among this age group.
According to data submitted by the Ministry of Land, Infrastructure and Transport to Kim Jong-yang, a member of the National Assembly's Land, Infrastructure and Transport Committee, a total of 324 individuals reported using cryptocurrency sales to finance their home purchases between February 10 and March 31 of this year. Among them, 229 were in their 30s, accounting for 70.7% of the total.
The amount of cryptocurrency sold by those in their 30s for home purchases reached 10.31 billion won, the highest among all age groups. Following them, individuals in their 40s reported 5.495 billion won. The amount sold by those in their 30s is approximately 1.9 times that of those in their 40s. Individuals in their 20s sold 1.185 billion won, while those in their 50s sold 1.072 billion won, and those aged 60 and above sold 510 million won.
The housing financing plan is a document that details the source of funds when purchasing a home. It must be submitted to the relevant local government within 30 days of the contract date for all housing transactions in regulated areas and for properties valued over 600 million won in non-regulated areas. Since February 10 of this year, the revised real estate transaction reporting rules have required that cryptocurrency sales be reported as a separate item in the financing plan. Buyers must provide documentation of the transaction, the timing of the sale, and currency exchange records.
This statistic is significant as it marks the first instance of cryptocurrency sales, previously classified under 'other funds,' being included in formal reporting. Notably, individuals in their 30s are considered to have a relatively high participation rate in risky asset investments such as stocks and cryptocurrencies. This trend confirms that they are realizing investment profits to fund home purchases.
However, the proportion of cryptocurrency sales in the overall home purchase financing remains small. In the case of individuals in their 30s, cryptocurrency sales accounted for only 0.1% of their home acquisition funds. Among their own funds, proceeds from property sales made up the largest share at 18.7%, followed by bank deposits at 14.6%, gifts and inheritances at 6.9%, and proceeds from stock and bond sales at 4.3%.
Market analysts are paying attention to the potential for cryptocurrency and stock investment profits to flow into the real estate market, particularly among the 2030 generation. With ongoing loan regulations and housing price pressures, it is anticipated that younger individuals will increasingly utilize financial investment profits, in addition to existing savings or parental support, to fund home purchases.
A real estate industry insider stated, "The inclusion of cryptocurrency sales as a separate item in the financing plan has begun to clarify how younger generations are sourcing their funds. While the scale is still limited, the trend of investment profits from the 2030 generation flowing into the housing market is likely to continue."
* This article has been translated by AI.
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