February Move-in Market 'Improvement' Outlook... Rising Price Expectations in Gyeonggi-do↑

February Housing Occupancy Sentiment Index (HOSI) Outlook

[Asia Economy Reporter Onyu Lim] An analysis has emerged that the outlook for apartment move-in conditions nationwide has improved in February, centered on the Seoul metropolitan area and some metropolitan cities.

According to the Korea Research Institute for Human Settlements on the 13th, the nationwide Housing Occupancy Situation Index (HOSI) forecast for February was surveyed at 84.3, up 7.5 points from last month. HOSI is an indicator that comprehensively assesses the move-in conditions of apartment complexes that are about to be occupied or are currently being occupied from the supplier's perspective. A value of 100 is the baseline; above that indicates favorable move-in conditions, while below indicates unfavorable conditions.

The institute analyzed, "There is a base effect due to the sharp decline last month, and the move-in performance of new complexes that began occupancy at the end of last year appeared better than initially expected," adding, "In most regions, centered on the Seoul metropolitan area and some metropolitan cities, both the January performance and February forecast rose together."

This month’s regional HOSI forecasts recorded Gyeonggi (101.8) above the 100 line, and Gwangju (95.6), Seoul (94.2), Daegu (93.1), Gyeongnam (92.5), and Busan (92.3) above the 90 line. In particular, Gyeonggi showed a forecast above 100 for the first time since the survey began in June 2017, as expectations for price increases formed recently in some areas due to transportation benefits and commuting demand to Seoul. It is also the first time Gyeongnam recorded above 90.

Additionally, this month, a total of 35,069 households are scheduled to move into 66 apartment complexes nationwide. This is a sharp increase of 48.5% (11,452 households) compared to last month’s nationwide scheduled move-in volume of 23,617 households.

By region, Gyeonggi has 13,283 households, Seoul 8,631 households, Incheon 2,280 households, Busan 1,982 households, Gwangju 1,865 households, Jeonbuk 1,409 households, Gyeongbuk 1,242 households, and Gangwon 1,216 households scheduled for move-in. Seoul and Gyeonggi account for 62.5% (21,914 households) of the total scheduled move-in volume.

Large complexes with more than 1,000 households are preparing for move-in in four complexes in Seoul (Gangdong, Seodaemun, Mapo, Yeongdeungpo districts) and three complexes in Gyeonggi (Ansan, Gimpo, Paju cities).

On the other hand, it was surveyed that there are no privately sold complexes scheduled for move-in this month in Gyeongnam and Jeju.

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