Mortgage loans for workers in their 30s and 40s soar 17.8% in South Korea

Mortgage loans granted to employees in Coreia from Sul increased by 11.1% in 2024 compared to the previous year. Esse foi o maior crescimento desde o início da série histórica em 2017. A alta foi puxada especialmente pelos trabalhadores na faixa dos 30 e 40 anos, que enfrentam pressões crescentes relacionadas aos custos de moradia.

The average total loan balance per salaried worker reached 52.75 million won at the end of 2024, representing an increase of 2.4% compared to the previous year. Esse was the second consecutive year of increase in the indicator. The data was released by the country’s national statistics center.

• Mortgage loans for the 30-year range rose 17.8%.
• For those aged 40, the increase was 12.7%.
• The average mortgage amount per wage earner reached 22.65 million won.

Concentrated rise in mortgages reflects search for properties

Workers in their 30s saw their average total debt balance rise 2.5% to reach 71.53 million won. Já those aged 40 recorded an increase of 5.1% in their average balance, which reached 81.86 million won. Esses groups concentrated much of the progress in real estate financing in the period.

Experts note that the launch of special mortgage programs for families with newborns at the beginning of 2024 helped to stimulate the acquisition of real estate. Mesmo with high interest rates, families chose to reduce other types of loans, such as unsecured loans, while mortgages advanced in isolation.

The overall loan default rate rose to 0.53%, marking the third consecutive year of increase. Entre low-income workers, with annual earnings of less than 30 million won, the arrears rate reached 1.47%. The numbers indicate greater pressure on managing family debts.

Average mortgage balance continues on upward trajectory

The average mortgage balance increased for the second year in a row and became the main driver of employee debt. Trabalhadores of large companies maintained an average loan balance of around 79.84 million won, almost double that recorded in small and medium-sized companies.

Financial institutions followed the movement by granting more real estate credit aimed at younger buyers. The phenomenon occurred even in a scenario of higher interest rates, which led many families to prioritize purchasing their own home to the detriment of other expenses or debts.

The data reveals that the 30s and 40s age group has assumed a central role in the dynamics of the recent South Korean real estate market. The significant increase in mortgage contracts reflects both the need for housing and the long-term financial planning strategies adopted by these professionals.

Pressure from housing costs influences debt decisions

Many employees in this age group chose to finance the purchase of properties to reduce future rental expenses or to build equity. The movement occurred despite tighter credit conditions in some segments.

Financial sector analysts are closely monitoring the evolution of these debts, especially as the weight of housing costs has consistently grown in family budgets. The concentration of growth in mortgages suggests a change in the debt profile of younger workers.

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The total average loan balance per employee surpassed the 2021 level and approached previous records. Essa trajectory reinforces the importance of continuous monitoring of credit conditions in the country.

Default indicators show slight deterioration

Although the volume of mortgages grew significantly, the overall delinquency rate increased moderately. The indicator for all employees reached 0.53% at the end of 2024.

For lower income groups, the index reached 1.47%, which demands attention from authorities and financial institutions. The numbers point to the need for careful management of financial obligations by families.

The information consolidated by the national statistics center helps to map credit behavior in the country. Elas serve as a basis for assessments of the financial health of salaried workers.

Differentiated growth by age group and company size

Workers aged 40 had the highest average total debt balance among the ranges analyzed. The value reached 81.86 million won, with a relevant contribution from mortgages.

Professionals in large corporations maintained higher levels of debt compared to those in small and medium-sized companies. Essa difference reflects variations in purchasing power and conditions of access to credit.

The rise of mortgages between 30 and 40 years highlights how housing costs influence this generation’s financial decisions. The 2024 data consolidates a trend observed in recent years.

Mortgage loans to workers in their 30s and 40s soar 17.8% in Coreia from Sul. The text contains approximately 620 words.