23,000 Households Move In During First Month of New Year... 28% Decrease Compared to Previous Month

Jusan Research "National Housing Market Business Survey Index Forecast Drops by 7.6 Points"

January Housing Occupancy Survey Index (HOSI) Outlook

[Asia Economy Reporter Onyu Lim] The volume of apartment move-ins in the first month of the new year is expected to decrease significantly compared to December of last year.

According to the Korea Housing Industry Research Institute on the 16th, a total of 23,617 households are scheduled to move into 62 apartment complexes nationwide in January. This is a 28.1% (9,231 households) decrease compared to the nationwide scheduled move-in volume in December last year (32,848 households).

In the metropolitan area, 11,749 households across 36 complexes are preparing to move in, while in the provinces, 11,868 households across 26 complexes are scheduled to move in. By region, a large volume is concentrated in ▲ Seoul·Gyeonggi (11,749 households, 49.7%) ▲ Busan (3,928 households, 16.6%) ▲ Gyeongbuk (3,146 households, 13.3%), among others.

Additionally, the nationwide Housing Occupancy Sentiment Index (HOSI) forecast for January was surveyed at 76.8, down 7.6 points from last month. HOSI is an index that comprehensively assesses the move-in conditions from the supplier's perspective for complexes that are about to move in or are currently moving in. With 100 as the baseline, a value above 100 indicates favorable move-in conditions, while below 100 indicates unfavorable conditions.

The Korea Housing Industry Research Institute analyzed, "With the announcement of the December 16, 2023 measures, the government's housing market regulation stance has been further strengthened, causing the January forecast to decline in most regions."

This month's regional forecasts showed a nationwide decline, with Busan (93.5) reaching the 90-point level, and Gyeongnam (85.7), Daegu (83.8), Gwangju (83.3), Seoul (82.4), Gyeonggi (80.3), and Gyeongbuk (80.0) recording scores in the 80s. Although Busan's forecast dropped 10.8 points from the previous month, it maintained the market sentiment reversal following its removal from the adjustment target areas, recording the highest nationwide score again this month following December last year.

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