This Year, Over 60,000 Households to Be Sold in 5 Local Metropolitan Cities... 14.7% Increase Compared to Last Year

[Asia Economy Reporter Choi Dong-hyun] This year, a total of about 60,000 households are planned to be supplied in five provincial metropolitan cities.

According to real estate market analysis firm Real Estate Info on the 16th, 59,947 households are planned for general sale this year in Busan, Daegu, Gwangju, Daejeon, and Ulsan. This represents a 14.7% increase compared to last year's 52,280 households. This figure is based on general sales excluding public sales and cooperative member units. Rental units are excluded.

By region, Daegu has the highest number with 23,777 households, followed by Busan with 16,333 households. Daegu and Busan increased by 10.4% and 20.6%, respectively, compared to last year. Ulsan, which only supplied about 1,400 households last year, is preparing to supply over 4,000 units this year.

According to statistics from the Korea Financial Telecommunications & Clearings Institute, Daejeon had the most intense first-priority competition among the five provincial metropolitan cities last year. Daejeon recorded an average competition rate of 55.46 to 1, with about 256,000 first-priority applicants competing for 4,617 households (excluding special supply).

Gwangju recorded an average first-priority competition rate of 41.85 to 1, and Daegu recorded 20.60 to 1. Among the five cities, only Ulsan recorded a single-digit competition rate of 2.29 to 1.

Despite the high subscription competition rates, unsold units occurred in some areas. According to the Ministry of Land, Infrastructure and Transport's unsold housing statistics, the unsold housing increase rates compared to January in these five metropolitan cities were 300% for Daegu and 200% for Gwangju. In Daegu, unsold units increased from 291 in January to 1,236 in November. In Gwangju, they rose from 52 to 180 units. However, considering the number of units supplied, the increase in unsold units is not a cause for concern. Busan and Daejeon saw decreases of over 30%, maintaining the heat of the sales market until the end of the year.

Kwon Il, head of the research team at Real Estate Info, said, "As supply increases, there may be uncontracted units in low-rise buildings, so the performance of the provincial metropolitan cities' sales market last year was relatively good," adding, "This year, from the beginning of the year, the president has directly emphasized stabilizing the real estate market, so government measures will be an important variable."

This content was produced with the assistance of AI translation services.